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Hungary: Debt Crisis in Private Sector Unsolved

Published: August 29, 2012; 16:07 · (Vindobona)

Despite the conversion of foreign currency loans, the number of non-performing loans is growing rapidly. According to analysts, the outlook is bad.

Hungary: Debt Crisis in Private Sector Unsolved / Picture: © Vindobona.org

According to the Hungarian National Bank MNB, 16.3% of the loans of private households are classified as non-performing. In summer 2011, the rate stood at 11%. In September 2011, the Hungarian government resolved that Hungarian loan takers may repay foreign currency loans at favorable conditions. Losses for banks amounted to 25% of the nominal value.

What is more, the Hungarian…

This article includes a total of 224 words.

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