The government is drafting an amendment that would take management of “baby bonds” from banks and give it to the state.
Since 2006, the Hungarian State Treasury has made available a HUF 42,500 “start-of-life subsidy” available to all Hungarian born citizens who reside in the country. Parents may contribute to the bond, benchmarked to the five-year government bond, until their children turn 18.
So far the state has paid HUF 60bn for the bonds and parents HUF 15bn, the paper said.
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