In February, the Economic Development Ministry launched the Baross Gábor Reindustrialization Program with a framework amount of HUF 700 billion (EUR 1.7 billion). The goal is the “reindustrialization” of the country. All companies can apply for a loan through Eximbank without any restrictions. The interest amounts to a maximum of 3.5% for euro constructions and a maximum of 6% for forint constructions.
The Economic Development Ministry wants to help companies that have gotten into a difficult situation due to the energy crisis and inflation and to revive the credit market.
In view of the currently high interest rates, companies need cheap financing, as numerous cheap loans that the National Bank of Hungary (MNB) has been granting since 2013 as part of the Funding for Growth Scheme (FGS) at interest rates of max. 2.5% will expire from 2023.
Incidentally, since the end of the year there has been a special program for smaller companies, linked to the Széchenyi card, with a fixed interest rate of 5%. The government has increased the framework amount for 2023 to HUF 290 billion (EUR 741 million).