What will happen to Hungary’s banks when Covid support measures come to an end?
With the country set to be among the first in Europe to achieve mass vaccination (after Viktor Orban’s government broke ranks with the European Union to secure supplies from Russia and China), that is becoming an increasingly urgent question for bankers and analysts.
Hungary’s population has benefited from one of the largest and most comprehensive Covid support packages in Europe. Analysts at Standard & Poor’s estimate that total measures – including furlough schemes, wage subsidies and loan moratoriums – have equated to around 20% of GDP.
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