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Govʼt announces HUF 80 bln job creation program

The government is launching a HUF 80 billion program to support job creation by offering wage subsidies to companies making new hires, Innovation and Technology Ministry state secretary Sándor Bodó said at a press briefing on Monday, according to a report by state news wire MTI.

The program could support 70,000 people finding jobs, the state secretary said.

Participants in the scheme must commit to employing new hires for at least nine months during which time they will receive wage support funding from the state for six months. Companies will receive a monthly gross HUF 200,000 support per new hires translating into net HUF 112,000 per hire.

State secretary for economic strategy and regulation László György said the initiative is part of the governmentʼs economic protection action plan and presents a good opportunity for firms that were forced to lay off employees because of the coronavirus pandemic.

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