Households withdrew HUF 186 bln in March
Photo by Shutterstock.com
Hungarian households withdrew a net HUF 186 billion from their bank accounts in March, a month after a tax rebate for families raising children and bonuses for pensioners, the police and the armed forces added more than HUF 800 bln to deposit stock, according to monthly data released by the National Bank of Hungary (MNB).
Hungarian banks' retail deposit stock reached HUF 13.264 trillion at the end of the month.
In March, households signed for a net HUF 35 bln of credit, raising lenders' retail lending stock to HUF 9.243 tln. Prenatal baby support loans accounted for HUF 26 bln of the increase.
The government introduced the unsecured, interest-free, general-purpose prenatal baby support loans of up to HUF 10 million for families planning to have children in July 2019.
The loans are part of a package of family support measures designed to address the problem of depopulation and are available only until the end of 2022.
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.