Index – Economy – Here is the government's move: Four points were delivered to the banks and there may be a major shift in loans

According to a statement from the Ministry of National Economy, Marton Nagy held a constructive meeting with representatives of the Association of Banks on Thursday. At the meeting, the Minister of National Economy reviewed the current state of the Hungarian economy with the managers representing the banks.

They pointed out that the structure and fundamentals of the national economy are strong, this year the country is at the beginning of an economic boom, and next year the Hungarian GDP may gradually enter the growth path: the economic expansion rate may reach the level of 3-5 percent. They emphasized in their information that the growth, in addition to the gradual recovery of consumption, is due to the weakness of foreign markets,

The unfavourable external environment could also have a significant impact on economic performance next year, so that in the event of a recovery in the German economy, domestic growth could approach 5 percent, while without it it could approach 3 percent. At the hearing, it was also pointed out that Hungary's catch-up with the EU average would continue under all realistic scenarios.

Here are the four clear demands of the government:

The Association of Banks and the Minister agreed that restarting the economy and putting it on a path of gradual growth is in our common interest. The Association’s representatives noted that banks also want to participate in this work. Accordingly, they pledged to do so.

According to the announcement, signs of this can already be seen with the increase in residential transactions, but this favorable process has not yet begun for businesses. Marton Nagy addressed the Banking Association with four requests as part of the consultation:

• The Prime Minister informed the participants Employee Loan DetailsAbout, which will provide workers aged 17-22 with significant support to start their future careers. The Minister asked bank representatives to properly prepare for the mediation as soon as possible and successfully for the worker loan.
• The Minister of National Economy stressed that solving housing problems and building housing remains a top priority for the government. Therefore, he asked banks The annual interest rate level for housing loans should be reduced to less than 5 percent on a voluntary basis.
• According to the announcement, in order to ensure a tax-free tip, appropriate technical conditions must be met. To this end, the portfolio manager has asked banks to do so as soon as possible. POS terminal developmentAs a result, a separate “TIP” function can be created. In this way, it will be possible for the station to split the bill and put the tip directly on the server's account, and for consumption on the account of the company concerned.
• Marton Nagy stated that around HUF 100 billion of free money is currently available to the public on SZÉP cards. It seems necessary to fully exploit the reduced tax benefits and provide them to the economy. Digitization of SZÉP cardsi.e. banks are creating the possibility of mobile payment as well.

The Minister of National Economy has tasked the Association of Banks with working within two months to determine when and how specific ministerial requests can be met.

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