Govʼt, MNB weigh further measures to support SMEs

MNB

Photo: Gergely Botar/kormany.hu

Hungaryʼs government and the National Bank of Hungary (MNB) are considering measures involving "credit or direct support" to help Hungarian-owned SMEs weather the economic impact of the coronavirus outbreak, Gergely Gulyás, the head of the Prime Ministerʼs Office, said at a regular press briefing, Hungarian news agency MTI reports.

Gulyás at an earlier press briefing. (Photo by Gergely Botár/Kormany.hu)

Gulyás said measures would be aimed at keeping the economy going and preserving jobs.

He said the government anticipates the impact of the coronavirus will result in "hundreds of thousands" of lost jobs.

On Wednesday, the government announced a number of measures designed to support the sectors of the economy hardest hit by the coronavirus restrictions. The government also introduced a moratorium on payment of principal, interest, and fees on all corporate and retail loans until the end of the year.

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