Government pledges EUR 558.9m to boosting business productivity

Government pledges EUR 558.9m to boosting business productivity

The government will invite bids to disburse 200 billion forints (EUR 558.9m) in support of boosting the productivity of micro, small and medium-sized companies outside Budapest, the state secretary for European Union development policy at the human resources ministry said on Friday.

The grant scheme covered by the GINOP Plus economic and innovation programme will be the first one in which companies based in Pest County will be eligible to submit bids, Eszter Vitalyos told a press conference, noting that the county is now eligible to apply for European Union development funding independently of Budapest.

The first round of bidding will run from July 12 to 19, with further rounds planned in October and January, Vitalyos said. Hungary, Austria reject European minimum wage The funds are expected to be disbursed among 1,500-3,000 companies, she said. Trade volume continues double-digit expansion in May Hungary’s trade volume continued to grow at a rapid pace in May, albeit from a low base, when pandemic shutdowns still impacted a number of sectors, data released by the Central Statistical Office (KSH) on Friday show.

Exports rose by an annual 37.9 percent to 9.397 billion euros, while imports climbed 38.2 percent to 9.300 billion euros. The 97 million euro trade surplus edged up from 87 million euros in the base period.