In an effort to create more high-value-added jobs, the Hungarian government is extending aid to small and medium-sized enterprises. SMEs can apply for HUF 5bn in state funding. Finance Minister Mihaly Varga said that the government funded initiative aims to strengthen the competitiveness and productivity of SMEs by helping them to introduce new technologies and improve the skills of their employees. Companies that receive funding must agree to raise wages by a minimum of 10 percent for three years and offer employee training.
