Demján Sándor Programme ‘progressing well’, Minister Nagy says

The Demján Sándor Programme, launched by the government to scale up local SMEs, is “progressing well”, National Economy Minister Márton Nagy said at a press conference on Monday.

Nagy said funding for the scheme was expected to be exhausted by the autumn. He noted that the government had cut rates on the Széchenyi Card to 3pc for investment loans and 4.5pc for other credit in the framework of the scheme. He added that, since the measure, applications for HUF 240bn of credit had been submitted, which could lift investment loan outlays by HUF 150bn from 2024.

He said that decisions on HUF 30bn of HUF 48bn in applications for the “1+1” SME investment stimulus programme have been taken. Decisions on the entire allocation could be made by the end of May, supporting 450-500 businesses, he added. He said businesses had submitted 1,885 applications for HUF 137bn of funding in the programme. So far, 194 applications for HUF 109bn of funding of HUF 350bn available in a scheme to boost exports have been accepted.

Five applications for a combined HUF 329bn in credit to support outward FDI have been accepted, and HUF 53bn has been disbursed. Ten applications for 67bn in funding to support outward FDI in a capital scheme have been submitted, and contracts on close to HUF 20bn have been signed.