Government announces loan repayment moratorium

A pro-government commentator welcomes the government’s plan to help Hungarian families and businesses survive the financial problems the coronavirus pandemic is sure to bring. A left-wing pundit calls for more government action to protect jobs.

On Wednesday, PM Orbán announced a five-point plan to help Hungarian families and businesses. The government suspended all loan repayments until the end of the year; introduced a cap on new consumer loan interest rates and suspended employers’ social contributions in sectors most impacted by the coronavirus shutdown. The MSZP and Jobbik welcomed the decisions, while the Democratic Coalition called for more help for Hungarian business and families.

Magyar Hírlap’s Gábor Putsay welcomes the government’s decision to suspend loan installment and interest payments. The pro-government commentator hopes that the moratorium will help families and businesses stay afloat in the midst of the economic decline caused by the coronavirus emergency.

In Népszava, András Törő scorns the government for not being proactive enough. The left-wing columnist acknowledges that the loan payment moratorium is a step in the right direction, but adds that the government would need to do much more to protect jobs and help those who are laid off.

Tags: coronavirus, economy, loan, Orbán