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Orbán outlines main points of economic action plan

Prime Minister Viktor Orbán on Monday outlined the main points of an economic action plan the government is launching to shield the economy from the fallout of the coronavirus pandemic, Hungarian news agency MTI reports.

Photo by MTI/Prime Ministerʼs Press Office/Zoltán Fleischer

The plan consists of a workplace preservation program under which the state will take over part of the remuneration of employees whose jobs have been impacted by efforts to contain the coronavirus; a HUF 450 billion workplace creation program involving investments; a program to support the sectors hardest hit by the pandemic, such as tourism, catering, and passenger transport; and a HUF 2 trillion corporate financing program that involves interest subsidies and state guarantees.

The plan also includes a family and pensioner protection program that will include the reintroduction of a pensionerʼs bonus equivalent to a full monthʼs pension.

Orbán said Hungaryʼs general government deficit target for this year would be modified from 1% of GDP to 2.7%.

He said the government aims to create as many jobs as have been lost because of the pandemic.