- miniszterelnok.hu - https://miniszterelnok.hu/government-provided-for-supplementing-of-economy-protection-action-plan/ -

Government provided for supplementing of economy protection action plan

According to these, the credit debt repayment moratorium of families and businesses will be extended under unchanged conditions by another six months to 1 July. The moratorium will be extended automatically; only those will have to contact their banks who would like to repay their debts despite the moratorium, the Prime Minister said.

He further announced that the government would support businesses that had been compelled to close down their operations temporarily due to the imposed disease control measures through the cancellation and assumption of two thirds of their wage costs also in December and January. The cancellation of contribution payments and wage support will also be extended – in addition to catering establishments, hotels and tourism businesses – to privately owned bus companies which have been compelled to suspend their services.

Mr Orbán also said from 1 January the local trade tax of small and medium-sized enterprises and individual entrepreneurs will be halved. These businesses provide the largest number of jobs in Hungary, and at the same time, they are the most vulnerable during the epidemic, he said explaining the reason for the measure, adding that settlements with a population of less than 25,000 will receive grants from the government, while the financial situation of larger municipalities will be reviewed on an individual basis.

According to the fourth decision, families raising and expecting children will be assisted with housing refurbishment loans with preferential interest of maximum 3 per cent up to HUF 6 million. From this amount, HUF 3 million is a non-repayable grant which families can take advantage of upon the completion of their refurbishment projects, and the amount of the outstanding debt will be automatically reduced by that sum, the Prime Minister highlighted.

He stressed that the second wave of the coronavirus pandemic is reaching new heights throughout Europe. “Our physicians, nurses and hospitals are standing their ground against the attacks of the virus; the government is providing them with all the equipment and supplies necessary for the fight,” Mr Orbán said.

He highlighted at the same time that the virus had attacked not only people’s health, but also the economy and jobs; therefore, during the epidemic, in addition to human lives, we must also protect families and businesses.

“Every life and every job matters to us,” he stressed.

At the end of his announcement, the Prime Minister said we have reason to believe that we will manage to save not only the lives of tens of thousands of Hungarians, but also hundreds of thousands of jobs. “We did it once before, if we stand together, we will succeed again,” he said.