Economy & PolicyInvestments

The government is advancing EU support for Hungarian companies

The government will provide HUF 22 billion of EU funds this year to support Hungarian companies struggling with Brexit.

Minister of Foreign Affairs and Trade Péter Szijjártó announced the news after the meeting of the Operational Group responsible for relaunching the economy.  

Based on the decision of the European Commission, approximately HUF 22 billion of funds would be available for companies in difficulty in Hungary due to Brexit between 2022 and 2025. 

The European Union is providing this money for four years, ending in 2025, which is the reason why the government’s decision was needed.

“We decided to advance this European Union fund from national sources, thus providing a tender opportunity to companies now facing difficulties and challenges due to Brexit,” the minister said. 

He added that the tenders will open starting next week, and companies will get HUF 22 billion in total for investments by the end of 2021.

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