Hungarian Government Boosts Gábor Baross Credit Program
The Hungarian government has announced a significant increase in funding for the Baross Gábor Reindustrialisation Programme, a subsidised credit scheme designed to support businesses. The allocation for the programme will be raised by HUF 200 billion, bringing the total amount to 1,200 billion (EUR 3.1bn), according to the economic development ministry.
The additional funding is intended to provide support for investments in manufacturing and services, foreign direct investment (FDI), and fleet upgrades for logistics companies. The credit targets a range of sectors including food, construction, telecommunications, pharmaceuticals, tourism, catering, logistics, green industry, and automotive industry suppliers.
Launched on February 1, the scheme initially offered credit with caps at 6.0 percent for forint loans and 3.5 percent for euro loans. With the increase in funding, the credit will now be available at 5 percent for forint loans and 3 percent for euro loans.
Since its launch, lenders have signed contracts for corporate credit worth more than HUF 950 billion within the framework of the programme, with outlays reaching HUF 700 billion.
This increase in funding for the Baross Gábor Reindustrialisation Programme reflects the government’s commitment to supporting businesses and stimulating investment in key sectors of the economy.
Source: MTI
