“The Hungarian government is launching a funding program with a budget of fifty billion forints (EUR 140.7 million) for the development of healthcare production capacities”, Minister of Finance Mihály Varga announced in a video posted to his social media page.

“It is in Hungary’s interests to also be capable of self-sufficiency within the field of producing healthcare protective equipment, because by doing so it will not be at the mercy of the international market if there is another wave of the epidemic”, the Minister highlighted.

“Without a reinforced level of Hungarian healthcare production, the country would find itself in a vulnerable position if global supply chains were to be temporarily severed”, Mr. Varga emphasised. “The government’s goal is to prepare for a possible future epidemic situation, and to assure that a continuous supply of PPE equipment can be provided to healthcare services”, he explained.

“Continuing the work that has already begun with relation to settling hospital debts, the Ministry of Finance has been in negotiation with health industry businesses that are capable of creating the required capacities. Based on the recommendations of the World Health Organisation (WHO), we have determined the critical products that the country may require in case of a natural, industrial or biological disaster or state of emergency”, the Minister explained, adding that thanks to the programme, Hungary will become self-sufficient with relation to the manufacturing of these products. Thanks to the funding, existing manufacturers will, amongst others, be able to increase their capacities, but the establishment of totally new capacities will also be possible within the framework of greenfield investment projects.

(Ministry of Finance/MTI)