Facts & Statistics

Moratorium on loan repayment helps 1.6 million families and some 500,000 companies

András Tállai, parliamentary secretary of state at the Ministry of Finance, said that the government made a good decision implementing the moratorium.

In an interview with the local newspaper Villággazdaság, Tállai said that 1.6 million families out of 2.7 million retail customers and about half a million companies out of one million businesses with loans taken advantage of the repayment moratorium.

According to the politician, other countries have only allowed debtors to suspend payments for a few months after the outbreak. Poland and Germany, for example, only allowed this for three months, while France permitted a moratorium of four months. The state secretary believes that the assistance of the Hungarian government is unique also at the international level.

By extending the payment facilitation option by six months, Hungarian debtors have been granted relief for 15 months.

He said that the moratorium rules would protect customers later as well. After the expiration of the measure, monthly installments will not be allowed to increase, and the interest rate may change only for loans whose original contract was for a variable interest rate.

Amounts not paid under the moratorium will be repaid by customers via a proportionate extension of the term, he said.

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