Varga: Govt to spend another HUF 5 bn to promote SMEs

The government will use another 5 billion forints (EUR 15.9m) to assist small and medium-size ventures with investments creating new jobs, Finance Minister Mihaly Varga has said. Some 250 firms could benefit from the new programme, and the scheme could create 1,500 new jobs, he said. He added that 1.7 million forints from state coffers would go towards the creation of each new position, an amount which could be further increased, to a maximum of 3.6 million forints, if the venture seeks to employ registered job seekers or single mothers, or if it is located in an economically disadvantaged area. The programme was designed to close gaps between different areas in the country and increase employment, the minister said.