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Report: Baby bond popularity drops

Initiatives

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The number of new Start accounts, which are a prerequisite for purchasing baby bonds, fell to approximately 23,000 last year, down from the previous year’s 37,200, Hungarian economic daily Világgazadaság reported today.

The paper added that the number of Start accounts opened in January was 2,021 as compared to the 7,362 newborn Hungarians. According to Hungary’s State Treasury, the drop is due to insufficient advertising.

Baby bonds are start-of-life subsidies, available to all Hungarian-born citizens, who reside in the country, Hungarian news agency MTI said, adding that parents can contribute to the bond until their child turns 18.

Since 2006, the State Treasury has made HUF 42,500 available through the initiative, MTI said, adding that, it took over exclusive management of the subsidy in October 2012. Prior to that, the accounts could be opened at banks and savings cooperatives as well as at the state treasury.

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