Hungarian govʼt wants to convince EC to approve SME grants

Initiatives

The Hungarian government intends to give non-refundable support (grants) to small and medium-size businesses (SMEs) operating in the field of manufacturing industry, and it wants to convince the European Commission (EC) to approve the move, Economy Ministry State Secretary Bela Glattfelder said yesterday. 

The EC is of the view that non-refundable moneis should be granted only in exceptional and highly justified cases, that is why it has not given green light to the governmentʼs economic development and innovation opeative programme (GINOP) under which the government has called tenders for manufacturing industry SMEs for HUF 8.5 bln in grants.

The money tendered under GINOP has been advanced by the central budget, Glattfelder said, adding that EU monies could retroactively finance the programme if Brussels gave it go-ahead. Glattfelder was adressing a conference organised by the Hungarian National Machinery industry and Energy Association in Budapest.

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