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Energy Subsidies Extended for SME's in Hungary

• 11 Jan 2023 10:37 AM

The government has extended a subsidy programme for SMEs challenged by higher energy prices through the first quarter of 2023, the minister for economic development said.

Under the scheme, the government is compensating SMEs in energy-intensive manufacturing sectors as well as in the commercial accommodations business for up to half of the increase in their energy bills.

Márton Nagy noted that the government decided earlier to broaden eligibility for the scheme by lowering the threshold for energy costs-to-revenue from 3% to 2%.

An energy efficiency investment programme is coupled with scheme.

The allocation for both is 100 billion forints (EUR 252.4m) in 2022 and 120 billion forints in 2023.

Over 36,000 SMEs are eligible for the programmes.

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