Conditions of the Hungarian “Super Bond” to be modified?!
Sales of the Hungarian Government Security Plus – available from 3rd June – have exceeded EUR 9.1 billion (~ HUF 3,000 billion) – reported by the Hungarian Finance Minister, Mihály Varga. The Minister also added that this amount was not planned to be achieved this year.
According to mfor.hu, 45% of the Hungarian Super Bond – offering 4,95% average annual return over five years – were purchased by residents of Budapest and Pest County; followed by Bihar and Borsod-Abaúj-Zemplén counties.
According to Mihány Varga, this is remarkable as the latter two counties are excluded from the most developed regions of the country.
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So far, these papers had been returned at a value of EUR 3 million (~ HUF 1 billion), which is insignificant compared to the recent EUR 9.1 billion (~ HUF 3,000 billion). The opportunity was taken only by those who needed money – said Mihály Varga.
Until this Wednesday, this can be realised by customers without exchange loss – The Hungarian Super Bonds are taken back by the Treasury, Post Offices and banks at 100%, while investors receive the prorated portion of the annual interest rate of 3,5 % for six months, which is 1,75% (free of tax).
Mihály Varga confirmed that by the end of the last year, government securities purchased by the residents worth EUR 17.3 billion (~HUF 5,700 billion); this volume is planned to be increased to EUR 33.5 billion (~ HUF 11,000 billion) by the end of 2023.
The Minister of Finance also added that no conditions are planned to be changed. However, according to Mihány Varga’s supplement today – if it is required by the yield environment, the conditions of the Hungarian Government Security Plus will be reviewed.
Source: mfor.hu
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