GFM: One of the most successful government loan programs of all time can continue in 2024

By: Trademagazin Date: 2023. 12. 28. 10:55

In order to strengthen Hungarian businesses and increase their performance, the government has decided to continue the Gábor Baross Reindustrialization Loan Program until July 1, 2024, by providing an additional HUF 200 billion. In total, the government provides HUF 1,200 billion for the economy through the Gábor Baross Reindustrialization Loan Program – announced the Ministry of Economic Development (GFM).

They wrote that the government suppressed inflation in 2023, and that it will restore economic growth in 2024. The government’s goal is for the Hungarian economy to grow again dynamically by 4 percent next year. The key to this is the restoration of consumption, keeping the level of the investment rate above 25 percent of GDP and further increasing labor market activity, they emphasized.

They added that in parallel with the decrease in consumption and therefore demand, the investment performance of sectors sensitive to the performance of the domestic economy fell in 2023, therefore, with competitiveness in mind, the restoration of investments must be supported in 2024. This goal is also served by the continuation of the Gábor Baross Reindustrialization Loan Program, which at the same time contributes to the protection of jobs and the expansion of economic growth.