Cséfalvay sees no further means to assist forex borrowers

Initiatives

Hungary's government has exhausted all available means to assist troubled borrowers with foreign currency-denominated loans, National Economy Ministry state secretary Zoltán Cséfalvay said on commercial television on Wednesday. The government has assisted more than 320,000 borrowers with forex loans with three programs, but these means have basically been played out, Cséfalvay said on TV2's Mokka program. Cséfalvay said 170,000 Hungarians had availed of an early repayment scheme at discounted exchange rates that wound up early in 2012. Some 140,000 have so far joined an exchange rate limit scheme, and others have converted their forex loans into forint ones, he added. Answering a question he noted that measures to assist such borrowers do have fiscal implications.

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