The government is launching a factory rescue program, within the framework of which, in the first round, a total of HUF 150 billion in support will be provided for investments that increase the energy efficiency of large companies, Minister of Foreign Affairs and Trade Péter Szijjártó announced on Saturday.

According to the announcement of the Ministry of Foreign Affairs and Trade, the head of the ministry emphasized that the European economy is heading for a severe recession due to the war in Ukraine and the sanctions response, which has a significant impact on Hungary as well due to the common market.

"For us Hungarians, of course, our goal is to stay out of this," he said, adding that for this purpose, assistance must be provided to Hungarian companies so that they can maintain their operations on the one hand, and increase their capacities on the other.

"Today, the biggest enemy of companies is the extraordinary increase in energy prices, which is unfortunately one of the direct consequences of the failed Brussels sanctions policy," he stated.

Péter Szijjártó announced that within the framework of the announced factory rescue program starting on November 2, the energy efficiency improvements of the companies that applied successfully will be promoted, with a support intensity of 30 percent in Budapest and 45 percent in the countryside. According to his information, companies that expand their energy supply capacity within the framework of a development of at least HUF 200 million, for example, install solar panels or increase their energy efficiency in any other way, thereby reducing their energy costs, can apply. The highest support amount is six billion forints, the total value of the program in the first round is 150 billion forints, he announced.

In the end, the minister also mentioned that the program will be coordinated by the investment promotion agency under the Ministry of Foreign Affairs and Trade, which has also implemented a successful support program announced in order to mitigate the effects of the coronavirus epidemic.

2022 plus:

You can almost hear the opposition shaking their fists (with disorientation): the money is not being distributed to the little people again, but billions are being pumped into profit-hungry companies!

Before anyone falls for the usual demagogic nonsense, consider one fact: if the factory closes because its operation becomes uneconomical and unprofitable due to the skyrocketing energy prices, who will pay the workers who are fired because of this? Perhaps DK and its attached parts?

It's easy to feel hot, but it's much more difficult to make sensible decisions. Although the factory rescue program is forced, it is a very reasonable step.

Source: MTI

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