The European Investment Bank (EIB) said it will lend 200 million euros to Magyar Eximbank, creating a new credit line to support the faster recovery of Hungarian companies from the impact of the coronavirus crisis.
Three Japanese automotive suppliers are making investments of 6.5 billion forints (EUR 18.0m) in Hungary, with Hungarian government support worth 2 billion, Péter Szijjártó, the minister of foreign affairs and trade, said.
Belgian vegetable processing company Sugo Food is investing 5.4 billion forints (EUR 15.0m) at its base in Baja, in southern Hungary, Péter Szijjártó, the foreign affairs and trade minister, said.
The opposition Democratic Coalition (DK) called on the prime minister to explain the high level of state debt. “The amount accumulated in state debt is almost twice the amount held in 2010.
Hungary posted a trade surplus of 811 million euros in November, the Central Statistical Office (KSH) said. Annualised exports rose for the third month in a row, while imports increased for the first time since the start of the pandemic, KSH said.
The government’s support scheme for the investment projects of large companies has helped generate more than 382 billion forints (EUR 1.06bn) worth of developments in Hungary since 2015, Finance Minister Mihály Varga said.
The Hungarian government, through the European Union’s common agricultural policy (CAP), will spend 4,265 billion forints (EUR 11.8bn) on the development of Hungary’s rural areas, its agriculture and food industry until 2027, Agriculture Minister István Nagy said.
Foreign direct investments in Hungary amounted to an unprecedented 1,676 billion forints (EUR 4.7bn) during the pandemic last year, the minister of foreign affairs and trade said in an interview.
Hungary’s industrial output grew by an annual 3.5% in November, expanding for the third month in a row and accelerating from 0.6% in October, the Central Statistical Office (KSH) said.
Last year’s achievements in innovation, higher education and vocational training form the foundations for strengthening Hungary’s knowledge and work-based economy, the Ministry of Innovation and Technology (ITM) said in a statement.