State wage support to be available from May
Photo by Liptak Robert / Shutterstock.com
State wage support for companies where employees are working less because of the coronavirus pandemic will be paid for a period of three months from May, state secretary for economic strategy and regulation László György said on public television on Tuesday, according to a report by state news wire MTI.
Photo by Liptak Robert/Shutterstock.com
The state will pay 70% of net wages for hours that employees canʼt work if companies can show a 15%-50% reduction in man-hours, Mr György said on news channel M1.
He added that the details of the wage compensation would be announced in days.
For Hungarians who have lost their jobs because of the pandemic, the state is offering a zero-interest student loan to cover living costs while paying 95% of the cost of retraining programs, György said.
He suggested that people who have lost their jobs in the tourism sector could boost their income later by investing their time in courses to become software developers or system administrators.
Innovation and Technology Minister László Palkovics unveiled the wage and re-training support earlier on Tuesday as part of a broader government plan to shield the economy from the impact of the pandemic and jump-start it when the crisis is over.
In these challenging times, bbj.hu is committed to providing you with up-to-date and accurate information. We will post at least three coronavirus updates each day, including on weekends, at 10 a.m., noon and 5 p.m., or as close to then as developing events allow. Breaking news and other stories will be added throughout the day Monday-through-Friday.
Hungary Gasoline Prices 3% Over Regional Avg
Hungary to Address Future of Cohesion Policy During EU Presi...
120,000 Guest Workers Employed in Hungary
Budapest Airport Wins 'Best Airport in Eastern Europe' for 1...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
.jpg)
