Report: Bank loans to Hungarian companies at an eight-year low

Initiatives

Due to the shrinking economy, bank loans to Hungarian companies fell to an eight-year low in the first quarter, Bloomberg reported today.

The National Bank of Hungary (MNB) has been trying to reduce reliance on a two-year-old program which provides cheap loans to small- and medium-sized companies, Bloomberg added. 

Forecasts for economic growth and three planned interest rate cuts may revive lending later this year, the report added.

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