MKIK unveils measures to fight economic fallout in Hungary

The Hungarian Chamber of Industry and Commerce (MKIK) has suggested a number of measures the government can introduce to help the economy recover from the coronavirus. MKIK is proposing the government use grant money and credit to be repaid in 2021 or 2022 to preserve jobs and manage unemployment. It is also suggesting that the small business tax be lowered from 12 percent to 9 percent and is calling for targeted payroll tax preferences of up to HUF 50,000 per employee, capped at HUF 12.5m per company. The government is also being urged to extend unemployment benefits from three months to 180 days.