Number of baby bond accounts close to 160,000 in Hungary

The number of Start “baby bond” accounts at the State Treasury has risen close to 160,000, daily Magyar Idők said on Tuesday.

A 42,500 forint (EUR 131) start-of-life subsidy has been available to all Hungarian-born citizens who reside in the country since 2006, but the Treasury took over exclusive management of the baby bonds in the autumn of 2012.

The bonds are also now available for Hungarian children living abroad who were born after June 30, 2017.

Some 47 billion forints is on the Start accounts at present, Deputy Finance Minister András Tallai told the paper. He noted that not just parents, but grandparents and other relatives can open the Start accounts to make savings for children in the family.

There were about 92,000 live births in Hungary last year, data from the Central Statistical Office (KSH) show.

Source: MTI