130,000 apply for prenatal baby support credit


Photo by Shutterstock.com

Some 130,000 couples have applied for prenatal baby support loans since the launch of the preferential credit a year and a half ago, Minister for Families Katalin Novák told Hungarian news agency MTI on Sunday.

The government introduced the unsecured, interest-free, general-purpose prenatal baby support loans up to HUF 10 million for families having 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.

Novák said about HUF 47 billion in subsidies had gone to support the purchase of vehicles for big families.

Families with three or more children are eligible for up to HUF 2.5 mln for the purchase of vehicles that seat at least seven passengers under the scheme.

Another scheme, in which the state takes over part of the mortgages of families with children, has drawn around 14,000 participants who have reduced their home loan principal by HUF 2 mln on average, Novák said.

More than 18,000 households with children have availed of HUF 155 bln in support from the Home Purchase Subsidy Scheme for Families (CSOK), she added.

Under CSOK, launched in 2015, families with children may apply for up to HUF 10 mln in grant money to put toward the purchase of a home.

Close to 17,000 applications for a combined HUF 88 bln in funding have been submitted for an expanded version of CSOK for residents of villages, Ms Novak said.

Since January, 46,000 mothers of four or more children have availed of an exemption from the personal income tax, she added.


KSH Dismisses Reports of Eurostat 'Investigation' Figures

KSH Dismisses Reports of Eurostat 'Investigation'

Hungarian-American Business Chamber Established in Chicago Int’l Relations

Hungarian-American Business Chamber Established in Chicago

Number of Registered Jobseekers Down 3% in November HR

Number of Registered Jobseekers Down 3% in November

Number of Guest Nights up 5.1%  Tourism

Number of Guest Nights up 5.1% 


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.