Hungary's support for troubled borrowers to cost EUR 55-75mn annually.

By bne IntelliNews May 4, 2011
The government's support programme for troubled Hungarian borrowers may cost the budget around HUF 15-20bn (EUR 55-75mn) per year, portfolio.hu reported, quoting the chairman of the parliamentary economic committee Antal Rogan. The support will be extended on social grounds, i.e. the state will support only borrowers, whose housing is worth up to HUF 15-20mn. The state will also help those debtors, who have so far repaid their loans regularly. The banks will charged fees in exchange for the government guarantees. According to earlier information, the government and the Banking Association have discussed a relief programme that envisages an upper and a lower limit for the CHF/HUF exchange rate outside which the monthly installments would not change.
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