Orbán: Banks should agree to lend more if tax is cut


The Hungarian government hopes to sign agreements with banks under which they would increase lending in exchange for the reduction of the bank levy, Prime Minister Viktor Orbán said on Friday.

Hungary's bank levy is to be reduced starting in 2016 under a memorandum of understanding (MoU) signed by the government and the European Bank of Reconstruction and Development (EBRD) on February 9.

The MoU, downloadable as an English-language PDF, did not contain any conditions for the reduction but it did specify the new lower rates for 2016 and 2017 and set June 19 as a deadline to submit the necessary legal amendments to parliament.


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