Half of Hungarians indebted - paper


According to statistical data, 52% of all Hungarian residents are in debt, daily Nepszabadsag reported on Friday.

Forty-five percent of households owed money to banks this spring; 800,000 families held one loan each, nearly 500,000 families had two, and 400,000 families were serving three or more loans simultaneously.

During the past two years the number of families with two loans has doubled, and the number of those with three or more loans has increased by four times, the paper said and cited a recent study by the Central Statistics Office (KSH).

Over 700,000 households have mortgages, 80% of which are home loans. Some 87% of the families that have taken out a mortgage include at least one wage earner but in 72,000 families all members are unemployed or inactive.

More than 500,000 families have taken out a loan to buy a car, furniture or other goods, while 300,000 households have credit card debts or have a bank account that is in the red, Nepszabadsag said.

Over 100,000 families owe money to private individuals, the paper added.


Household income improved in Q1 Analysis

Household income improved in Q1

Ministers in new Orbán gov't sworn in Parliament

Ministers in new Orbán gov't sworn in

Spring’s allergy season - the heat is on Interview

Spring’s allergy season - the heat is on

Airport bus fare could rise to HUF 1,500 City

Airport bus fare could rise to HUF 1,500


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.