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Coronavirus – Operative board for protecting economy established
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Managing the coronavirus crisis has cost Hungary 1,400 billion forints (EUR 4.04bn) so far, Finance Minister Mihály Varga said in an interview to the Saturday issue of the daily Magyar Nemzet, adding that an operative board in charge of protecting the economy is being set up to streamline regulations that may act as a drag on economic growth.
Hungarian firms will benefit from the establishment of an operational board in charge of protecting the economy, he said. It will comprise representatives from 8-10 state authorities such as the tax office, the consumer protection office and the state treasury, and is scheduled to hold its first meeting next week.
Varga noted that the government has established a 633 billion forint fund to cover health-related expenses, and 480 billion forints of this has been tapped so far.
Fully 904 billion forints of the 923 billion forint fund for job protection and investment support has been spent so far.
None of this includes the costs of temporary tax forgiveness or reductions as well as a moratorium on paying back loans.