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Gov't Awards HUF 6.5 bln of Subsidies to SMEs in Underdeveloped Regions

Government

The government has awarded HUF 6.5 billion of subsidies to 566 SMEs to support capacity expansions in underdeveloped regions of the country, state secretary for employment policy Sándor Czomba said on Wednesday, according to a report by state news wire MTI.

Czomba said 1,080 applications for HUF 11.3 bln in subsidies had been submitted in the European Union-supported scheme that launched in January.

Most applicants were from the construction, commerce, and manufacturing sectors, he added. 

EU funding for the program helped create 2,000 jobs and state funding almost 900. Around 80% of new hires were registered job seekers.

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