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Regarding one of the measures of the economic protection action plan against the coronavirus epidemic announced on Saturday, the extension of the loan repayment moratorium, Levente Kovács affirmed that the purpose of the repayment moratoriums is to provide effective assistance to those in need. for the necessary time and mitigate negative economic effects. This is a solution generally supported by the banking sector for sustainable economic growth, he emphasized.
He said that according to Saturday’s announcement, the Hungarian payment moratorium will automatically be extended for half a year without change. This goes beyond the previous approach, as all clients fall for it, added Levente Kovács.
He added that according to the proposal of the banking association, those who have a loss of income due to a coronavirus emergency and have difficulties in paying the debt, should definitely take advantage of the possibility of a moratorium. And those who do not fall into this group of needs and are asked to reflect and compare the possibilities of remaining in the moratorium and continuing to pay, emphasized Levente Kovács.
Prime Minister Viktor Orbán announced on Saturday that the government had decided to complement the economic protection action plan in the interests of families and businesses. According to this, among other measures, the moratorium on the repayment of loans for families and companies will be extended without changes for half a year until July 1. The moratorium will be extended automatically, only those who want to pay off their loan despite the moratorium will have to visit their bank, the prime minister said.
Cover image source: MTI / Illyés Tibor
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