Hungary, The Government has extended a subsidy program for small and medium enterprises SME through the Q1 of 2023

, SEE Energy News

Hungarian Minister of Economic Development Marton Nagy said that the Government has extended a subsidy program for small and medium enterprises (SME) through the first quarter of 2023, in order to help them cope with high energy prices.

Under the support 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.

Minister Nagy noted that the Government also decided to broaden eligibility for the support scheme by lowering the threshold for energy costs -to-revenue from 3 to 2 %.

An energy efficiency investment program is coupled with a scheme. The allocation for both is 250 million euros in 2022 and over 300 million euros in 2023. Over 36,000 SMEs are eligible for the programs.