National Economy Ministry prepares action plans to boost SMEs and tourism

In line with a government decision to boost Hungary’s economic growth further, the National Economy Ministry is preparing two action plans by Sept 30 to further support the domestic SME and tourism sectors, Márton Nagy, the minister, said on Monday.

The ministry cited Nagy as saying that small and medium-sized enterprises are a significant pillar of Hungary’s economy, accounting for 99 percent of all domestic businesses and 72 percent of all domestic employees. Those companies ensure the living of millions of Hungarian families, he said. Nagy said those companies were critical to Hungary’s competitiveness, and strengthening their effectiveness, productivity, and performance was imperative. The ministry’s action plan for SMEs includes proposals on financing programs and incentives to support investments and provide cheap loans, in addition to reducing administrative burdens, which will support and accelerate their green and digital transition.