Lending Scheme To Be Expanded To Large Companies In Hungary
- 27 Jan 2015 8:00 AM
The MNB would like to extend its present funding for growth program aiming at SMEs to include large companies, central bank governor György Matolcsy told the state radio.
Extending the scheme to large companies would add 1% to GDP growth this year, Matolcsy argued.
Recalling that Ft 500 billion was injected into the economy through the scheme last year, he said this sum could rise to 1 trillion this year.
Matolcsy asserted that MNB measures are responsible for half of the economic growth in Hungary over the past two years.
The MNB earlier extended the deadline of the funding for growth scheme from the end of 2014 to the end of 2015.
In the frame of the programme, the MNB provides credit to commercial banks at 0%, and based on this commercial banks have to extend credit at 2.5%.
Source: Hungary Around the Clock
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