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Hungarian government stalls the engine of the economy, META writes

Since the change of government, innovation subsidies have almost disappeared, which has had harmful effects on the Hungarian economy, said the Hungarian Energy Efficiency Corporation (META) in its letter to the Minister of National Development Tamás Fellegi.

In order to better tackle environmental problems and the energy crisis, a substantial raise in innovation input is needed in Hungary. However, the government has not yet paid the promised and previously offered subsidies for the innovation companies, META wrote in its letter to Minister for National Development Tamás Fellegi. Lack of subsidies has made several research and development stop and has driven a huge number of companies and institutions, including the most promising market players, into bankruptcy, META wrote.

Activity group Levegő Munkacsoport (CAAG), a member of the META, has been urging the increase of the innovation subsidies for years. CAAG finds the current situation particularly shocking as with the demise of innovation subsidies the country is losing its competitiveness. “The government is stalling the engine of the economy and is also sending the message that outstanding performance is not appreciated in Hungary. Many talented Hungarians go to work abroad and this process is expected to speed up, which may have unpredictable consequences. However, we believe that the government will take steps to change this situation.”- said András Lukács, the president of the CAAG.