Following the Baross Gábor Reindustrialization Program, the government has now launched the Baross Capital Program. This will add HUF 600 billion (EUR 1.6 billion) fresh capital into the economy.
The government wants to avoid a recession in 2023 and generate economic growth in a situation marked by war and sanctions, according to the Economic Development Ministry. Under the new capital program, the first pillar of the program, the real estate and securities pillar, was launched on March 1, 2023, with a total budget of HUF 150 billion (EUR 401 million).
With the Baross Capital Program, which will be implemented through the National Capital Holding, the government will help increase investment, improve energy efficiency and contribute to the green turnaround.
Together with the capital program, approximately HUF 1,600 billion (EUR 4.2 billion) capital sources would be available to the economy. The government is providing HUF 3,600 billion (EUR 9.6 billion), or nearly 5% of GDP, for business financing through the MFB and Eximbank loan and equity programs and the Széchenyi card programs. This will contribute significantly to an increase in GDP growth this year and lay the foundation for the economy to return to growth above 4% from 2024.