NGM State Secretary: the interest rate cap protected SMEs from the negative effects of the rising yield environment
The interest rate cap protected SMEs from the negative effects of the rising yield environment; the introduction of the measure did not mean an additional burden for them thanks to the falling loan interest rates and the agreement reached with the banks – said the Secretary of State responsible for economic strategy, financial resources and macroeconomic analysis of the Ministry of National Economy on Tuesday at the Portfolio Credit 2024 conference.
Máté Lóga emphasized: last year, thanks to state-supported loan programs, including the Baross Gábor Újraiparizósikasi Hitelprogram (BGH), the Széchenyi Card Program or the Garantiqa Credit Guarantee, it was possible to prevent a complete decline in corporate lending and to fill the gap left by the central bank’s Growth Loan Program.
The state secretary called the negotiations between the government and the banking association successful, the aim of which is to start market-based lending, which is essential for economic growth. He called it important to maintain the voluntary credit ceiling for home loans in order to boost consumption and accelerate economic growth. The APR level has decreased by 1.2 percentage points to 7.3 percent since the introduction of the measure in October 2023, he said.
Related news
NGM deputy state secretary: the launch of the Budapest-Brassó flight is an important step for both cities
The launch of the Budapest-Brassó flight is an important step…
Read more >NGM: tourist interest in Hungary has increased spectacularly
The visitor traffic of the Pentecost long weekend also made…
Read more >NGM State Secretary: the machine industry plays a decisive role in industrial development
The development of the machine industry is essential for Hungary…
Read more >Related news
Tetra Pak has announced that Alex Henriksen will be the managing director of the Eastern European region
Tetra Pak, one of the world’s leading food processing and…
Read more >Coca-Cola Hungary has developed new educational modules on waste circulation
After the online curriculum on the basics of the circular…
Read more >Fidelity: Three themes shaping investments in Q3
Has the post-epidemic normalization that we have been waiting for…
Read more >