December 20, 2020
1 min read

Hungary to roll out new economic measures

The government will also offer subsidies to businesses that were temporarily shut down due to anti-pandemic measures, said the Prime Minister…reports Asian Lite News

Hungarian Prime Minister Viktor Orban announced new economic relief measures to increase economy activity, as the number confirmed coronavirus cases in the country has topped the 300,000 mark.

“In the interests of families and businesses, the government has decided to add new items to its economic protection action plan,” Xinhua news agency quoted Orban as saying in a Facebook post on Saturday, in which he listed the following decisions.

The first is to extend a moratorium on loan repayments by households and businesses until July 1, 2021, to mitigate the impacts of the pandemic, Orban said.

The government will also offer subsidies to businesses that were temporarily shut down due to anti-pandemic measures, the Prime Minister said.

“They are supported by the government, as in December and January the government will pay two-thirds of the social charges of their employees,” Orban said.

Additionally, local taxes for small and medium-sized enterprises will be halved from January 1, said Orban, who added that the measure is targeted at those in smaller settlements, with less than 25,000 inhabitants.

The government will also offer a special loan and non-refundable grants for families with children or expecting a child to renovate their homes, Orban said.

On Saturday, Hungary registered 4,045 new coronavirus cases, raising the national caseload to 300,022, according to the government’s coronavirus information website.

In the past 24 hours, 189 people have died from the disease, taking the death toll to 7,914 in the country, while 93,323 have recovered so far.

Currently, 7,295 patients are being treated in hospitals, and 538 of them are on ventilators

Also read:UAE, UK Go Eco Way

Previous Story

Twitter declares Biden as winner

Next Story

Huge Jump In Loan Write-offs in NDA Era: Report

Latest from EU News

EU pushes ahead with drone wall plan

EU accelerates plans for a high-tech drone wall and €140bn Ukraine loan, balancing defence needs with legal hurdles, as Russian incursions heighten pressure on Europe’s eastern flank. The European Union is pressing

EU’s Kallas Calls India ‘Reliable’ Partner

The EU said its closer partnership with India is increasingly becoming vital in the wake of the shifting geopolitical realities…reports Asian Lite News European Union’s top diplomat Kaja Kallas has reaffirmed that

EU Hits Russia with Tougher Sanctions

The new package will target “Russian banks, crypto assets, and energy imports The European Commission has presented its 19th package of sanctions against Russia for approval by the European Union (EU) member

Iran Slams EU Push for UN Sanctions

Britain, France and Germany (E3) last month invoked the “snapback” clause, enabling UN sanctions to return within 30 days if Iran is found violating the 2015 nuclear deal….reports Asian Lite News Iran’s

India-EU hold counter terror dialogue

Brussels meeting sees both sides vow tougher cooperation on terror financing, online radicalisation and global security…reports Asian Lite News India and the European Union have pledged to deepen cooperation against terrorism following
Go toTop