The government has allocated some 210 billion forints (EUR 580m) in development support to 1,700 Hungarian companies, Finance Minister Mihály Varga said on Facebook.
The support is mainly for boosting competitiveness and efficiency through the purchase of new technology. A tender invited for RDI support dubbed Ginop Plus in mid-July attracted more interest than previously expected. “We thus decided to make available the entire allocation of 200,000 billion forints,” Varga said. In order to help the relaunch of the economy, the assessment of applications has been fast-tracked, he said, adding that Hungary would not wait for transfers to arrive from the European Union. Payments are being advanced from the budget in an effort “to preserve our advantage in the relaunch”.