Hungarian PM says to extend loan moratorium, cut local business tax

Hungary's government will extend a moratorium on loan repayments by households and businesses until July to mitigate the impacts of the coronavirus crisis, Prime Minister Viktor Orban said on Saturday.

Orban also said in a posting on his Facebook page that a local business tax for small and medium-sized businesses will be reduced by half from the beginning of January, as these companies provide most of the jobs in the economy.

Families with children or expecting a child would be eligible for a preferential loan and non-refundable grants to renovate their homes, the prime minister added.