Hungary Announces Further Steps to Help Economy Amid Pandemic

Hungary is set to introduce further minor economic measures to counter the adverse effects of the coronavirus pandemic such as subsidizing renovations for families or cutting company tax for small and medium enterprises in half from Jan. 1, Prime Minister Viktor Orban said on Facebook.

The cabinet will subsidize smaller municipalities automatically and discuss needs with major towns one by one, Orban said, since the latter move may hurt local governments. State financing of cities has been cut earlier in the pandemic, which pushed many of them to the brink of bankruptcy.

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