5 Points In The New Aid Package

The government announced the second action plan summing up to 20 percent of the annual GDP today. It consists of the following points.

  • Protection of jobs: in the case of part-time work, the government is ready to take over part of the wage costs from employers
  • New jobs: investments will be supported, worth HUF 450 billion
  • Restart of key sectors: tourism, health care, construction, food industry, agriculture, logistics, transportation, film and creative industries
  • Corporate financing: loans to Hungarian companies with guarantee and subsidised interest, worth HUF 2,000 billion
  • Protection of pensioners: 13th month pension returns in four installments, pensioners receive one week more each year from 2021 to 2024. This is important because the yearly bonus based on GDP growth will not be availabe in the near future.

This is the second of the three phases of the full package of meausers. In the

first phase the payment of social security contributions was previously suspended in certain sectors, and the burden on catastrophic entrepreneurs was eased for this year, and a moratorium on bank loans was decided.

We will inform you about the details as they are published. If you need further information, please contact us.

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