The Ministry stressed that economic growth of between 3 and 6 percent in 2025 can only be achieved by ensuring economic neutrality. In addition to revitalizing the economy, the Government aims to ensure that the economic recovery is inclusive and benefits the widest possible spectrum of society and the economy, especially Hungarian families and Hungarian small and medium-sized enterprises.
It was announced: In order to achieve all this, the government will begin developing a new economic policy action plan, which is based on the following three pillars: increasing the purchasing power of income, ensuring affordable housing, and the Sandor Demjan programme, which aims to double the turnover of businesses. The NEP Action Plan includes a total of 21 actions along these three pillars.
The Ministry explains: The government supports increasing the purchasing power of income with three measures, of which NGM mentioned concluding a three-year wage agreement with representatives of the employee interest and employers as the first, followed by the launch of the Workers’ Loan Program and doubling the family tax credit for children in two steps.
In putting forward housing assistance measures, NGM points out that Budapest faces a serious housing problem, the solution of which would primarily be the responsibility of the capital, but it clearly cannot cope with this problem. In order to alleviate the housing problem in Budapest, the government is developing three measures: tightening the conditions for providing private housing services, i.e. Airbnb, studying the system of apartment rental fees and contract terms, and expanding dormitories for higher education students.
As they added, the government's goal is to improve housing conditions throughout the country, outside of Budapest, and is therefore planning seven more steps related to affordable housing, such as creating a housing program for young people, launching a rural home renovation programme, 50 percent of benefits coming to the Széchenyi Pihenő card which provides Temporary opportunity to renovate the house.
Country-wide measures also included ensuring the optional, voluntary and temporary use of pension fund savings for housing purposes, developing a tax deduction to support employer-provided housing, and maintaining the reduced value-added tax of 5 percent on the sale of new housing units. Real estate until the end of 2026, and applying 5 percentage points to voluntary housing loans, in cooperation with the banking sector.
In the third group, the government announces the Sandor Demjan Program, which aims to double the size of local enterprises. The SME sector is the backbone of the Hungarian economy, which the government is helping to support and strengthen through eight measures: the Large Capacity Financing Programme, the SME Investment Support Program 1+1, by launching the “Every company must have its own “. The “Private Website” program, to enhance digitization for
In addition, they announced a significant reduction in the annual interest payable to 3.5 percent for the Széchenyi Card Program investment loan products, the relaunch of Eximbank Zrt's Export Promotion Loan Program, and the investment loan program to be offered by Eximbank Zrt. Eximbank Zrt., the announcement of the venture capital program conducted by NTH, the acceleration of domestic EU programs affecting the SME sector, and finally the reduction of governance of the SME sector, thus relaxing the requirement to apply the mandatory audit value limit.
Overall, the 21 measures of the New Economic Policy Action Plan contribute to economic growth of between 3 and 6 percent. So also, for the expansion of the Hungarian GDP to exceed the average growth of the Union and belong to the forefront, thus continuing to catch up with our country with the European Union, NGM wrote.
