Budapest: István Hollik, KDNP member of parliament, highlighted during a parliamentary session on Monday that the worker’s loan is a crucial component of the Hungarian government’s new economic policy. This initiative is designed to support young Hungarians in securing employment, starting businesses, acquiring housing, and raising families concurrently.
According to KDNP, János Fónagy, the parliamentary state secretary of the Ministry of National Economy, elaborated on the worker’s loan scheme. The program targets young individuals aged 17 to 26, offering them an interest-free loan of up to four million forints, which can be used at their discretion. To qualify, applicants must be either employed or self-employed in Hungary for a minimum of 20 hours per week. For self-employed individuals, their entrepreneurial income must meet the average income of those employed for 20 hours a week.
Furthermore, Fónagy clarified that individuals eligible for student loans are not permitted to apply for worker’s loans. Th
ose who do take advantage of the worker’s loan must commit to five years of employment or entrepreneurial activity within Hungary. The loan term is set for 10 years, and the program also encourages family growth. The new regulation is scheduled to take effect on January 1.
