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Baby bond accounts exceed 63,000

Initiatives

The Hungarian State Treasury reported to have managed 63,578 Start accounts, which parents must open to be eligible for "baby bonds", Hungarian business daily Világgazdaság reported today.

More than 41,000 accounts have been opened at the Treasury since "baby bonds" were launched in December 2013. In a parallel move, the Treasury took over exclusive management of the subsidy. Earlier, the accounts could be opened at banks and savings cooperatives as well.

The paper said more than 41,000 accounts were opened in 2011, 36,000 in 2012 and just 11,000 in 2013. Since 2006, the Hungarian State Treasury has made the HUF 42,500 start-of-life subsidy available to all Hungarian-born citizens who reside in the country. Parents may contribute to the bond until their children turn 18. The newest bond, available from December 2013, pays three percentage points over inflation.

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