Socialists call for immediate measures to help borrowers indebted in Swiss francs

The situation that results from the rapid strengthening of the Swiss franc makes it necessary to introduce measures without delay, Katona said. The government has so far failed to take effective steps, he insisted.  

Some 150,000 families in Hungary have outstanding debts for more than 90 days and additional 165,000 families have debts for more than 30 days, Katona said. At least twice this many have great difficulties paying their instalments, he added.

The government should urgently contact the Banking Association and affected banks, as well as organisations representing borrowers because the problem cannot be solved without their involvement, Katona said.

Part of the 160 billion forints extra tax revenue that resulted from a bank levy introduced last year and the setting up of a National Asset Management organisation may help resolve the issue, he said. The current Swiss franc rate of more than 240 forints is not only the result of an international situation but also of a general distrust in Hungary's economic policy, he added.