1/4 of Farm Sector Borrowers Join Repayment Moratorium

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Around one-quarter of eligible farm sector borrowers have joined a repayment moratorium started in September, the National Bank of Hungary (MNB) said in a release on its website this week.

The central bank and financial market regulator said 7,414 loan contracts for a combined HUF 287 billion in credit are now in the moratorium.

Around HUF 196 bln of that credit was taken out by agribusinesses, while sole proprietors signed for HUF 88 bln, the MNB says. Borrowers with credit of HUF 1.139 trillion were eligible to join the moratorium.

The government announced the repayment moratorium to aid drought-stricken farmers in the summer.

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