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Assistance package for troubled borrowers to cost budget HUF 1.5bn

An agreement between the government and banks on measures to help Hungarians who are having trouble making repayments on their foreign currency-denominated loans will cost the budget almost HUF 1.5 billion, National Economy Minister Gyorgy Matolcsy told MTI on Monday.

The government and banks have agreed on five points of the plan, but not on three,  Matolcsy said. Under the agreement, the exchange rates for repayments on foreign currency-based loans for troubled borrowers is to be fixed, he added.

The government and banks failed to reach an agreement on eliminating the bank levy after 2012, he said.