The government plans to adopt a new, comprehensive tax relief package in November. It will likely include a reduction in social contributions and other measures to support businesses, announced Minister for Economic Development Márton Nagy.
Following tax reductions for families, the government now aims to expand support for SMEs. The goal is to create a predictable and business-friendly environment to stimulate investment and economic growth.
This also includes supporting SMEs through favorable financing options. The government has lowered the interest rate for liquidity loans under the Széchenyi Card Program to 3%, and has also relaunched the “1+1 Investment Incentive” scheme as part of the Demján Sándor Program, with a total budget of HUF 20 billion (EUR 51.2 million).
The government’s plans also include the adoption of a five-part package covering trade and consumer protection, the spread of AI technologies, and enhancing energy independence through the promotion of battery storage systems. Currently, battery storage capacities are significantly lower than solar power capacities. Supporting the development of new battery storage capacity could reduce dependence on electricity imports and lower operating costs for households and businesses.