Posted by: Hungarian Business Network Posted on: Monday 18 May 2009, 21:00

Due to the package of economic recovery announced by Gordon Bajnai, Minister of Economy today, the Government expects to retain tens of thousands of jobs. From among the countries in Central-East-Europe, Hungary is the first to spend an exceptionally high amount of over HUF 1,800 billion, i.e. EUR 6 billion, on new investments which will lead steady orders mainly in the construction industry.

In a breakdown of deadlines the package itemizes bigger EU developments, which facilitate, among others, the renewal of 267 schools, 24 outpatient clinics and 78 urban areas, more than 400 kms of railway and 350 kms of road-development. The HUF 1,800 billion package just announced will complement the measures taken by the Government last November for crisis management and economic recovery in a total value of HUF 1,400 billion, as a result of which more than HUF 560 billion have already been made available to domestic undertakings to this day. Due to all this Hungary may become able to partly reduce the negative effects of the world crisis, to create tens of thousands of jobs and to ground the long-term development of the country with further reforms.

Source and copyright:http://www.nfgm.gov.hu/en/pressnews/6billion.html