EU OKs €900m Hungarian Aid To Support Companies Affected By COVID19

The European Commission has approved three Hungarian aid measures, with a total budget of around €900 million (US$978.6 million), to support the Hungarian economy in the context of the coronavirus outbreak. The schemes were approved under the State aid Temporary Framework adopted by the Commission on March 19, 2020, as amended on 3 April 2020.

Executive Vice-President Margrethe Vestager, in charge of competition policy, said, “The three measures, with an overall budget of around €900 million, will enable Hungary to support up to 5,000 companies of all sizes in addressing their immediate liquidity needs, alleviating their financial burden and helping them maintain jobs during and after the coronavirus outbreak. We work closely with Member States to ensure that national support measures can be put in place in a coordinated and effective way, in line with EU rules.”

Hungary notified the Commission under the Temporary Frameworkthree support measures, with a total budget of around €900 million, to support companies affected by the coronavirus outbreak.

Full Content: Europa

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