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.

Rate Freeze on SME Credit Ending April 1 Banking

Rate Freeze on SME Credit Ending April 1

Budapest Residents to Weigh in on Rákosrendező Development P... Issues

Budapest Residents to Weigh in on Rákosrendező Development P...

AutoWallis Becomes Importer of Geely Group’s Commercial EV B... Automotive

AutoWallis Becomes Importer of Geely Group’s Commercial EV B...

These Are the Most Sleep-friendly Hotels in Hungary Hotels

These Are the Most Sleep-friendly Hotels in Hungary

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.