Government Launches HuF 137 BN Credit for Small Businesses
Finance Minister Mihály Varga has unveiled a 137 billion forint (EUR 397m) credit scheme for small businesses.
Adam
Economy
Hungary Promotes Job Protection Support
Foreign Minister Péter Szijjártó has called on the European Union to allow member states to raise their job protection support for companies above 800,000 euros, the current limit for job protection or modernisation funding.
2/3rds of Companies Delay Tax Deadline
Two out of three companies have taken advantage of a government measure allowing corporate tax to be paid by Sept. 30 rather than June 3.
European Court rules for Hungary against EC decision on progressive taxes
The European Court of Justice ruled in favour of Hungary against the European Commission’s decision that the progressivity of certain tax rates based on turnover was in breach of EU state aid rules.
Government to provide 200 BN credit line to local councils
The government is opening a 200 billion forint (EUR 580m) preferential credit line for local councils, Gergely Gulyás, the head of the Prime Minister’s Office, has said. Funding for local councils will rise by 18% next year, Gulyás said, underlining the importance of the role local councils play in Hungary’s fight against the novel coronavirus […]
Retail sales fall 10.2% in April
Retail sales in Hungary fell by 10.2% year-on-year in April as the country went into lockdown to contain the spread of the novel coronavirus, data released by the Central Statistical Office (KSH) show.
Hungary’s economy ‘stable’
Hungary’s economy has suffered from the corona crisis but chances are good that it will be among Europe’s most stable, the head of the Prime Minister’s Office said.
Decision to Support Enterprises Made in Record Time
The first decisions regarding a government tender to support technology upgrades made by enterprises from the budget of 33 billion forints (EUR 95.5m) have been made in record time, Mihály Varga, the finance minister, has said.
Hungary’s trade plunges on pandemic impact
Hungarian exports and imports plunged in March, when the coronavirus started impacting the economy, according to a second reading of trade data released by the Central Statistical Office.
PMI continues to improves after pandemic plunge
Hungary’s seasonally adjusted Purchasing Managers Index (PMI) rose to 40.3 points in May from 33.7 in April, continuing to improve after plunging in March on the impact of the coronavirus pandemic, Halpim, the organisation that compiles the index, said.