Government approves six new proposals for relaunching Hungary’s economy

The government has now approved a total of 35 proposals put forward by the operative board set up to help jump-start the economy.

The foreign minister has confirmed that the government has approved six new proposals of the operative board responsible for relaunching Hungary’s economy, four of which aim to make the distribution of resources more efficient and two improve infrastructure.

Péter Szijjártó, Minister of Foreign Affairs and Trade, said the government cleared the launch of a program of the Hungarian Development Bank (MFB) to support developments in the construction industry that improve efficiency. It also approved a more than HUF 200 billion (EUR 554.7m) expansion of MFB’s balance sheet with the aim of making its lending activities more flexible. The scope of MFB’s guarantor activities has been broadened, and the lender will now be able to clear its venture capital transactions with the Competition Office (GVH) retroactively.

Minister Szijjártó said the government approved infrastructure upgrades at the industrial park in Szikszó, in north-eastern Hungary, to make the region more attractive to investors. Developments to another four industrial parks in communication, electronics, energy and water supply have also been approved, totalling at HUF 100 billion, to ensure ideal environment to future investors as soon as possible.