Gov't Clears HUF 200 bln Aid for SMEs in Energy-Intensive Manufacturing

Government

The government has approved an allocation of around HUF 200 billion to help SMEs in energy-intensive manufacturing segments manage higher costs, Economic Development Minister Márton Nagy told state news wire MTI on Thursday.

Under the new scheme launched amid the energy crisis in Europe, Nagy said HUF 100 bln will be earmarked for 2022 and HUF 100 bln for 2023. This year, HUF 75 bln will go toward compensation for higher energy prices and HUF 25 bln will support investments that improve energy efficiency, he added.

The investment support will be capped at 15% of the total value, an amount Nagy suggested companies could apply to self-financing required to draw on the state-subsidized Széchenyi Card credit scheme.

Registration for the SME energy cost and investment support program will start on October 20, he said.

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