ADVERTISEMENT

Hungarians open 11,000 baby bond accounts in Q1

Tourism

Hungarians opened almost 11,000 Start accounts, a type of account required to purchase "baby bonds", in the first quarter of this year, Hungarian business daily Világgazdaság reported today, citing Treasury data.

The paper noted that should the trend continue, the number of accounts opened in a single year could surpass 41,000, a record set in 2011.

Since 2006, the Hungarian State Treasury has made the HUF 42,500 start-of-life subsidy – often referred to as “baby bonds” –­ available to all Hungarian-born citizens who reside in the country, Parents may contribute to the bond until their children turn 18.

Hungarian news agency MTI said that the Treasury recently took over exclusive management of the subsidy, while earlier, the accounts could be opened at banks and savings cooperatives. The total number of Start accounts stood at 77,000 at the end of March at which time the cumulative balance had reached HUF 14.6 bln, MTI added.

ADVERTISEMENT

Czech economic confidence weakens in October Analysis

Czech economic confidence weakens in October

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Budapest airport shuttle bus service expanded City

Budapest airport shuttle bus service expanded

SUPPORT THE BUDAPEST BUSINESS JOURNAL

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.