The loan moratorium will remain until October 31, and those in need can apply from November to June 30, 2022, said Mihály Varga.
The government made an important decision on the loan moratorium, according to the announcement of the Minister of Finance Mihály Varga: from November to June 30 of next year, the needy can still use the loan repayment moratorium.
- pensioners,
- those expecting a child
- those raising children,
- public employees,
- and individuals whose income has decreased compared to the previous year.
The head of the department added: in the case of businesses, those whose sales revenue fell by at least 25 percent compared to the previous year can apply.
He called it important that those who wish to extend the moratorium until the end of June 2022 will have to declare this to their bank if the eligibility conditions are met. Staying inside is therefore not automatic, he said. In order for those concerned to have enough time to comment on staying in the credit moratorium, it will be automatically extended until October 31, 2021 for everyone in an unchanged form, he said.
He touched on the following: in the national consultation, the Hungarian people gave a clear answer, 91 percent of the respondents supported the extension of the loan moratorium for the needy. The credit moratorium provided real help during the crisis, in protecting jobs and families' living standards. The purpose of the current decision is to maintain this safety net for those in need when the economy restarts, he said, adding: those who are already able and have the opportunity to continue paying the repayment installments should also consider the advantages of starting repayment.
Source: MTI
Photo: Facebook/Mihály Varga
