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Govʼt Bond Plus sales reach HUF 529 bln in first week

Retail investors bought HUF 529 billion of Hungarian Government Bond Plus (MÁP Plusz) securities between June 3 and June 7, Finance Minister Mihály Varga told state news wire MTI on Wednesday.

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First-week sales of MÁP Plusz were the highest of all government securities ever, beating the HUF 206 bln first week sales of the One-Year Government Securities papers released in 2017, the minister said.

Varga said the government aims to raise government bond stock held by retail investors to HUF 11,000 bln by 2023 from the current HUF 8,060 bln.

The Hungarian Government Bond Plus pays a rate gradually rising from 3.5% to 6.0% over five years.