Business infrastructure

NKFI gets budget increase of HUF 4 billion

HUF 31 billion was also reallocated to improve R&D and help boost the economy.

The government has repeatedly emphasized that the work of Hungarian researchers is of paramount importance for the success of the economy. This was seen in the spring when it instituted a 40 percent wage subsidy to retain highly skilled workers in the areas of research, development and innovation for three months during the COVID-19 crisis. 

At that time, Minister of Innovation and Technology László Palkovics reported that resources for R&D and innovation will continue to increase in 2021 as well. Companies could receive support for engineers, researchers and IT specialists, among others; the opportunity extended to all employers that were non-financial entities working in research and development, so it affected the entire national economy.

Now, the government has approved the 2020 program strategy of the National Research, Development and Innovation Fund (NKFI Fund), deciding to increase the fund’s budget by HUF 4 billion.

The cabinet in charge also decided to reallocate more than HUF 31 billion from the Economic Protection Fund to the National Research, Development and Innovation Fund to implement the economic recovery and epidemic-related tasks set out in the program’s strategy.

Of this, HUF 15 billion was allocated to the Research portion of the fund and HUF 16.4 billion to the Innovation portion.

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