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GOVT APPROVES PROPOSALS ON REBOOTING ECONOMY

The government has approved four proposals made by the body responsible for working out ways to revive Hungary's economy, with a view to boosting the competitiveness of enterprises and developing infrastructure, the foreign and trade minister said.
 

Péter Szijjártó, who is also in charge of rebooting the economy, said that the pot of subsidised loans that micro, small and medium-sized enterprises can draw on for investments is growing to 300 billion forints (EUR 864m) from 150 billion, giving 900 companies the chance to enhance their competitiveness. Also, 4 billion forints will go towards infrastructure developments in Göd, on the periphery of Budapest, to help Samsung SDI further expand one of the world’s largest electric battery plants. The minister said that given the importance of the car industry to Hungary’s economy, it was vital to have as many big international electrical producers as possible located here.
Szijjártó also announced that a road connecting Páty to the M1 motorway and a bypass will be built, making it easier for locals in the Zsámbék Basin to reach transport networks. The new road is also expected to attract investments to the new industrial area there.