Hungary Centralizes Operation of State Funds for Supporting Businesses 

Government

Minister of Economic Development Márton Nagy

The government has decided to centralize the operation of all state funds supporting businesses, Economic Development Minister Márton Nagy said on Monday, according to a report by state news wire MTI.

he measure will impact all funds that operate under the umbrellas of the Hungarian Development Bank (MFB) and Magyar Eximbank, Nagy said. The step aims to establish a more efficient, more effective, and faster system for getting credit, capital, and guarantees to businesses, he added.

He noted that the funds have around HUF 1 trillion in resources that have not yet been pumped into the economy.

In the future, any new state funds will be established only through the National Capital Holding Company, Nagy said.

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