Budapest, April 27 (MTI) – Hungarians opened almost 11,000 Start accounts for acquiring “baby bonds” in the first quarter of this year, business daily Vilaggazdasag said on Monday, citing data from the Treasury.
If the trend continues, the record for the number of accounts opened in a single year – 41,000 in 2011 – could be broken this year, the paper said.
Since 2006, the Hungarian State Treasury has made available the 42,500 forint start-of-life subsidy to all Hungarian-born citizens who reside in the country. Parents may contribute to the bond until their children turn 18.
The Treasury recently took over exclusive management of the subsidy. Earlier, the accounts could be opened at banks and savings cooperatives.
The total number of Start accounts stood at 77,000 at the end of March. The balance on the accounts came to 14.6 billion forints (EUR 48.5m).
based on the article of MTI