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May 25, 2020

Coronavirus Update: Moratorium on loan repayments saves Hungarians nearly HUF 3.6 trillion

“Thanks to the timely and efficient measures, Hungary stands a good chance of recovering from the economic slowdown as soon as possible. It could then become the EU’s top performing member state,” András Tállai said today.

During this morning's Operational Group press conference, András Tállai, Deputy Minister at the Ministry of Finance, said that “the first phase of defense against the coronavirus has come to an end, and Hungary is one of the countries with the most successful defenses.”

Tállai added that the most important part of the economy protection action plan, put into motion by the government to remedy the negative effects of the epidemic, was the moratorium on loan repayments.

The moratorium took effect on 7.7 million loan contracts, the deputy minister continued, saving Hungarians nearly HUF 3.6 trillion. “40 percent of private clients have decided to continue their loan payments, 70 percent of large companies and 40 percent of all small and medium-sized enterprises,” Tállai said.

“Thanks to the timely and efficient measures, Hungary stands a good chance of recovering from the economic slowdown as soon as possible. It could then become the EU’s top performing member state,” he concluded.

A call center set up for advice on the coronavirus can be reached on +36-80-277-455 and +36-80-277-456 or by email koronavirus@bm.gov.hu