A new fixed 3 percent interest loan scheme with a maximum value of 150 million forints will be available to Hungarian small and medium-sized enterprises (SMEs) starting October 6, Prime Minister Viktor Orbán announced at a joint press conference with Chamber of Commerce and Industry President Elek Nagy.
PM Orbán said the initiative marks “the first tangible fruit” of cooperation between the government and the Hungarian Chamber of Commerce and Industry, thanking the organization for its partnership.
The prime minister noted that Europe’s economy is struggling, competitiveness is deteriorating, and “there is no plan to improve it.” He described current EU economic policy as “defensive and hedgehog-like,” emphasizing that high energy prices, the war in Ukraine, and ongoing disputes over its financing are all weighing down Europe’s prospects.
“This is not good for a country like Hungary, which not only wants to defend what it has achieved but also wants to grow,” he said.
PM Orbán summarized the government’s economic strategy in four points: a 3 percent home creation loan, a 3 percent business loan, tax cuts for families, and tax reductions for enterprises.
“Starting Monday, all loan products under the Széchenyi Card program will have their interest rates reduced to 3 percent. This provides major help for SMEs — it’s flexible, easily accessible, freely usable, and low-risk,” he explained.
The government will allocate 250 billion forints this year and 320 billion next year to support the Széchenyi Card system, of which about 60 billion will go to the new 3 percent loan program, Orbán said.
He explained that the program’s launch had been delayed due to the war and international conditions, noting that the government initially planned an earlier rollout. “There was a flying start, just not from January 1, but from July 1,” he added, referring to other support measures already introduced, including tax relief for families and new business subsidies.
Asked about the GDP forecast, PM Orbán stated that the government would maintain its 3.1 percent growth target: “We’re fighting for the 3.1 percent growth — we’re not lowering the bar; we’re training harder to jump higher.”
