End of SME interest rate freeze in Hungary
A rate freeze on SME credit will end on 1 April, as lending rates are expected to fall under the 7.77% threshold set in November 2022, the national economy ministry said on Thursday.
SME rate freeze to end
The ministry said the rate freeze had saved over 50,000 SMEs, with close to HUF 1,500 billion (EUR 3.78 billion) in loans, around HUF 150 billion (EUR 380.6 million). It added that the benchmark three-month Budapest Interbank Offered Rate (BUBOR) had stood over 16.5% when the measure was rolled out.
The ministry noted that lenders had voluntarily agreed to reduce, temporarily, their spreads on corporate credit over the BUBOR to 0% from 1 February for a period of three months.
Construction sector output up 17.2% in January
Output of Hungary’s construction sector in January climbed by an annual 17.2%, the Central Statistical Office (KSH) said on Thursday.
Output of the buildings segment jumped by 20.5% while civil engineering output grew 11.6%.
Month on month, construction sector output rose by 10.2%, adjusted for seasonal and working-day effects.
Read also:
please make a donation here
Hot news
Surprising: Private super railway may connect Budapest with Budapest Airport
The world’s oldest Olympic champion, Ágnes Keleti, visited Madame Tussauds Budapest
Unexpected: President Xi will announce colossal Chinese carmaking plant near Hungarian city
The European Parliament spreads lies about Hungary?
CPAC Hungary: US, Dutch, Argentinian, Chilean, Polish politicians praised Orbán, Trump; slammed Brussels, Biden, wokeism
Hot, summer-like weather returns this weekend in Hungary