Budapest, December 27 (MTI) – Altogether 34,500 families have taken advantage of the government’s housing subsidy scheme, the CSOK, since its introduction in July 2015, the state secretary in charge of youth and family affairs at the Human Resources Ministry, said.

Fully 82 percent of applicants approved for a 10 million forint (EUR 32,000) home purchase grant entered the scheme by committing to having a child in future, Katalin Novák told a press conference on Tuesday.

Together with various other home buying subsidies the 2017 budget allocated 211 billion forints for this purpose, with flexibility in the spending cap, she said. This means Hungary will be spending 4.7 percent of its gross domestic product (GDP), nearly a double of the OECD average in spending on family subsidies, Novák added.

Source: MTI

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