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Aug 01, 2019

Hungarian government targets full employment

Minister Varga said the government will launch a HUF 3.5 billion (EUR 10.72 million) job creation initiative in August, with the aim to foster another 1,500 jobs at small and medium-size enterprises.

Finance Minister Mihály Varga has said Hungary wants to achieve full employment.

Minister Varga told MTI that the government will launch a HUF 3.5 billion (EUR 10.72 million) job creation initiative in August, with the aim to foster another 1,500 jobs at small and medium-size enterprises.

According to the latest statistics, the unemployment rate in Hungary edged lower to 3.3 percent in the April-June period from 3.4 percent in the March-May period. Minister Varga said that in addition to bringing to the surface the existing reserves in the labor force, the other aim of the government scheme was to boost the economy of the laggard regions of Hungary.

The Minister added that in the previous instalment of the job creation program 98 private companies received grants through which they were able to preserve 1,100 jobs and create 600 new ones.

Minister Varga also reminded that in the past seven years small and medium-sized enterprises received HUF 53 billion (EUR 162.4 million) in state subsidies, resulting in the creation of 28,000 jobs.

Photo credit: Origo