ADVERTISEMENT

Baby bond stock climbs over HUF 100 bln

Figures

The outstanding stock of baby bonds, a high-yield security available to newborn Hungarians since 2006, has climbed over HUF 100 billion, Finance Minister Mihály Varga said in a video posted on Facebook, according to a report by state news wire MTI.

Varga said baby bond accounts for 27,000 children had been opened this year, bringing the total number to 228,000.

He noted that the securities are tax-free and there is no account fee.

New parents who open a baby bond account for their child get a HUF 42,500 start-of-life subsidy and may buy more of the securities as their child grows older. The bonds pay a 3% premium over inflation, and the government offers a 10% top-up for additional purchases, up to HUF 6,000 a year.

ADVERTISEMENT

OECD projects Hungary GDP growth will slow to 5% in 2022 Analysis

OECD projects Hungary GDP growth will slow to 5% in 2022

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

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.