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Nagy: Government extends rate freeze for retail loans till year-end

Hungary's government is extending an interest rate freeze on retail loans until the end of 2024, Marton Nagy, the national economy minister, said in a statement on Thursday.

Nagy noted that the rate freeze was introduced in January 2022 and extended several times with a view to shielding households from the negative effects of the high-interest environment.

Over the past two and a half years, the measure has helped some 300,000 families with over 1,250 billion forints (EUR 3.16bn) in credit, Nagy said, adding that the freeze has saved them 266 billion forints so far.

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