Orban extends the credit moratorium for select social groups for an additional 6 months

Hungarian Premier Viktor Orban has announced the extension of the credit moratorium for an additional 6 months from January 1st 2021. This means that under the special circumstances families raising a child, retirees, unemployed and people employed in the public sector will not have to repay any loans until July 1st 2021. Orban said that the extension is automatic, meaning that anyone who applied for a credit moratorium doesn’t not have to file any additional documentation. According to statistics most people will take this option and choose not to repay their credits.

photo by Elekes Andor