Garantiqa Marks 30th Anniversary
Garantiqa Hitelgarancia, a guarantor controlled by the state of Hungary, has officially marked its 30th anniversary, according to portfolio.hu.
CEO Éva Buza said Garantiqa's market share is now close to 40%, adding that a Garantiqa guarantee now backs the credit of one in three SMEs.
At the end of June, Garantiqa covered over HUF 3 trillion of corporate credit.
Speaking at the event, Minister of Economic Development Márton Nagy said government measures, including support for SMEs in energy-intensive sectors, the continuation of the Széchenyi Card credit scheme for businesses, a factory rescue program, interest rate freezes for some retail borrowers and SMEs, a repayment moratorium for farm businesses, regulated utility prices for households, price caps on staples, an action plan for the tourism sector and the establishment of the National Capital Holding Company to streamline support for businesses, would ensure Hungary stays out of recession next year and the lending market remains lubricated.
He put next year's GDP growth at 1-1.5%. He said average annual inflation could reach 15% next year, but added that CPI could slow to 7-8% by year-end.
Hungary Gasoline Prices 3% Over Regional Avg
Hungary to Address Future of Cohesion Policy During EU Presi...
Cordia’s Marina City Project Begins
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.
