László Parragh also steps down as head of KAVOSZ

By: Trademagazin Date: 2024. 11. 26. 12:05

László Parragh had to leave the leadership of the Hungarian Chamber of Commerce and Industry (MKIK) as well as KAVOSZ – Világgazdaság has learned. Following Monday’s reshuffle, Ádám Balogh, the new financial vice president of MKIK, became the chairman of the board of directors of the organization that lends to small businesses. Official confirmation from KAVOSZ has not yet been received, but the changes are already being treated as a fact – Világgazdaság has learned.

László Parragh, who had led MKIK since 2000, lost his position as chairman to Elek Nagy in the chamber’s reshuffle at the end of October. Significant changes began with the new leadership of MKIK, and the effect of the change of direction was also felt in KAVOSZ. Parragh’s replacement at the credit institution under the influence of the chamber was almost inevitable, especially with the concentration of power of the new leadership of MKIK.

KAVOSZ Széchenyi Kártya Program Zrt. is a prominent player in the small business credit market, which is jointly owned by MKIK and the National Federation of Entrepreneurs (VOSZ). After the recent reshuffle of MKIK, it was expected that personnel changes would also be coming to KAVOSZ. With the appointment of Ádám Balogh, MKIK further strengthened its influence in the organization, which could become an important tool in the government’s economic stimulus policy.

One of the central elements of the government’s new economic policy plans is the Sándor Demján program, which focuses on supporting small and medium-sized enterprises. KAVOSZ can play a key role in its implementation, and Balogh’s appointment strengthens the close cooperation between the government and MKIK.

Parragh’s departure marks the end of a period spanning several decades in the history of KAVOSZ and MKIK. The arrival of the new leadership promises significant changes that could be in line with the government’s new economic policy directions. Based on the plans known so far, the role of KAVOSZ is expected to continue to grow in the implementation of economic stimulus programs, which may bring new directions in the organization’s operations.