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Hungary cbank to extend lending for growth programme into 2016 -daily
November 3, 2015 / 8:02 AM / 2 years ago

Hungary cbank to extend lending for growth programme into 2016 -daily

BUDAPEST, Nov 3 (Reuters) - Hungary’s central bank will extend its lending for growth programme into 2016 with total funding of 600 billion forints ($2.11 billion), daily newspaper Magyar Idok said on Tuesday citing unnamed sources.

The central bank declined comment on the report. The bank will hold a news conference at 1400 GMT about a new Growth Supporting Programme it plans to launch.

Governor Gyorgy Matolcsy, an ally of Prime Minister Viktor Orban, launched the massive lending for growth stimulus programme in 2013 to help government efforts to boost the economy by increasing lending to companies.

Magyar Idok said that in a new structure, the programme would continue next year, with the central bank giving more funds to commercial banks in two tranches of 300 billion forints each. ($1 = 283.6900 forints) (Reporting by Krisztina Than and Sandor Peto)

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