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Gov’t establishes HUF 20 bln regional crisis management fund

  The government has decided to establish a HUF 20 billion (about $80 million) regional crisis management fund to assist areas of Hungary that are in the greatest danger of growing unemployment, government commissioner in charge of crisis management István Tukacs told MTI on Thursday.

The funding is not based on geography, but will go to areas affected by mass layoffs, Tukacs said. The fund has been filled up from money earmarked for such programs of the EU funds in the regional operative programs.

So far, some HUF 6 billion from the National Employment Fund has gone to job preservation efforts, and a further HUF 10 billion is available by application. A HUF 30 billion EU-funded program will follow, supporting reduced working time and training.

The HUF 10 billion will be enough to keep jobs until the end of spring or the beginning of summer, Tukacs said. The HUF 30 billion to follow will be enough to preserve jobs until the end of the year, he added. (MTI-Econews)