According to a survey prepared by the Ministry of Finance, about sixty Hungarian companies have already launched or planned investments during the ongoing epidemic, with a total value of HUF 315 billion.
Minister of Finance Mihály Varga stated that the government wants to support companies looking to expand within the framework of corporate investment support and therefore will increase this year’s budget by HUF 25 billion to HUF 40 billion.
Encouraging investment is key to mitigating the economic damage caused by the coronavirus epidemic and relaunching the economy, Varga said. The corporate investment support launched in 2015 has been one of the most successful investment incentive programs of the government, the minister pointed out, and has so far created investments worth HUF 264 billion as well as 2,600 new jobs.
These developments will not only create new jobs but also improve productivity and technology and help expand markets, Mihály Varga explained. He said that the need for investment can be seen in several sectors, including the food, construction and automotive industries.