PSzÁF head says government's exchange-rate limit should be permanent
The government is continually examining every viable means of reducing the exposure of Hungary's population to foreign currency debt, but it is not planning to take any permanent measures, the National Economy Ministry told MTI on Friday. The ministry said that measures to help fx debtors cost money to the budget. Previously, Hungarian Financial Supervisory Authority (PSzÁF) president Károly Szász said that the government's temporary exchange-rate limit option for borrowers with loans denominated in foreign currencies should be made permanent. “As long as there are customers with foreign-currency loans, we should provide them with the possibility, if they feel the need, of entering into this construction,” Szász said. Szász noted that he has received no information indicating that the government is considering extending the five-year limit for the program under which debtors may cap their repayments on fx loans based on a temporary exchange-rate limit and repay the difference between the latter and the actual exchange rate later.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.