220,00 utilizing credit moratorium until June 30

Banking

The credit moratorium will help those in need until June 30 this year and will be used by 220,000 retail customers and 3,000 small businesses, said Parliamentary State Secretary András Tállai, of the Ministry of Finance, according to novekedes.hu.

In addition to tax cuts and job creation, the government will provide a targeted two-and-a-half-year repayment moratorium to help troubled bank debtors.

He noted that one of the most significant and most effective Hungarian measures of the coronavirus crisis is unique in the world, as nowhere else have bank debtors in need received such a long-term safety net. 

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