PM Orban: We are extending the loan repayment moratorium

The Hungarian government is extending the moratorium on households loan repayment for some social groups, Hungarian Prime Minister Viktor Orban told in a video published on his social media page after the meeting of the Economy Protection Operational Group.

ECONOMY POLITICS SEPTEMBER 19. 2020 11:19

“The government s decision is to protect jobs and the living standards of families during the epidemic, so today we are dealing with the issue of the loan repayment moratorium,” the Hungarian premier began his briefing. Mr Orban said he had received proposals from the Economy Protection Operational Group, which the government would accept.

The credit moratorium has so far helped 1,600,000 families and 60,000 businesses, which means that 2,000 billion forints will remain with families and businesses until December, the prime minister emphasized.

At a meeting of the Economy Protection Operational Group, it was decided to extend the loan repayment moratorium on households for some social groups from 1 January for another six months.

The extension applies to families raising children, pensioners, the unemployed and public employees.

In the case of businesses, entrepreneurs must declare if they want to extend the moratorium, and if their revenue has fallen by more than 25 per cent, they will get the option of an extended moratorium, the the head of government added.

“It is also important that the Economy Protection Operational Group recommends that a six-month termination ban be imposed on household and business loans, which were taken out before the onset of the epidemic. The government will do so,” PM Viktor Orban concluded.

ECONOMY POLITICS

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coronavirus, credit moratorium, economy, Hungary, pandemic, viktor orban