ADVERTISEMENT

Report: Baby bond popularity drops

Initiatives

pixabay

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.

ADVERTISEMENT

Bulgaria's household spending rise outpaces income growth in... Analysis

Bulgaria's household spending rise outpaces income growth in...

Parl't elects Orbán prime minister Parliament

Parl't elects Orbán prime minister

New managing director at LG Electronics Hungary Appointments

New managing director at LG Electronics Hungary

Hungary Grande Partenza 'exceeded all expectations' - gov't ... City

Hungary Grande Partenza 'exceeded all expectations' - gov't ...

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.