Viktor Orban announces further economic protection measures

In a video posted on social media on Saturday, the Hungarian prime minister announced the supplementation of the economic protection plan to mitigate the effects of the epidemic.

ECONOMY DECEMBER 19. 2020 13:42

The second wave of the epidemic is producing record high numbers throughout Europe. However, Hungarian doctors, nurses, and hospitals are standing strong against this new attack, posted Prime Minister Viktor Orban on social media on Saturday. He reassured citizens that the Hungarian government continues to provide them with all the necessary means of defence.

In the video, the PM reiterated that all lives, as well as families and businesses must be protected during the epidemic, consequently the Hungarian government has decided to augment the economic protection measures already in place.

Prime Minister Orban announced:

– the moratorium on loan repayments for families and businesses will be extended (unchanged) until 1 July 2021

– families with (or expecting) children may now apply for a preferential home renovation loan up to 6 million forints (approx. 16,700 euros) of which up to 3 million forints is deducted once the renovations are completed; interest rates on the loan cannot exceed 3 per cent

– government reimbursement for the months of December and January of two-thirds of the salary payments of businesses that had to temporarily close due to the protective measures instated

– local business tax of small- and medium-sized enterprises will be halved 

– settlements with a population below 25,000 will receive additional government support; the financial situations of cities with populations above this number will be examined individually.

“We ve succeeded in this fight before and if we band together we will do it again!” closed the Hungarian premier.



covid-19, hungarian economy, Hungary, viktor orban