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HATC SAMPLE EDITION:
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11th April, 2024
Ft 1.4trn in agricultural subsidies distributed in 2022
A total of Ft 1.4 trillion in agricultural and rural development subsidies was paid out in 2022, the Agricultural Economy Institute reported on Tuesday.
Of the total, 63.8% came from the EU, and 36.2% from the state budget.
The Rural Development Programme paid out Ft 750 billion and direct subsidies of Ft 496 billion reached the farmers.
Crop subsidies amounted to 33% of the total, animal husbandry 17% and orchards 4.5%.
Agricultural loans rose by 3.5% year-on-year to Ft 1 trillion, with subsidised loans accounting for 69% of the total.
The combined debt stock of individual farms shrank by 1.7% to Ft 369 billion, while the debt stock of agricultural co-operatives rose by 6.6% to Ft 671 billion, most of that related to animal husbandry.
The credit portfolio of the food industry fell by 2% to Ft 747 billion. (portfolio.hu)
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11th April, 2024
Free cash withdrawal at post offices
The opportunity for two free cash withdrawals of up to Ft 150,000 a month will be available at post offices, in addition to ATMs, under an amendment approved by Parliament yesterday to harmonise with EU legislation.
Free cash withdrawals from ATMs were mandated in 2014.
The adopted law transposes several European Parliament and European Council decrees and directives into Hungarian law, which aim to ensure resilience against the operational risks of digital technologies used by financial actors.
The MNB supports the availability of cash by regulating the availability of ATMs, and has ordered banks to operate a minimum level of ATMs. (portfolio.hu; economx.hu)
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11th April, 2024
Crypto asset law approved
Parliament yesterday adopted legislation regulating the issue of crypto-assets in Hungary, the offering of crypto-assets in the context of public tenders, as well as their trading, crypto-asset services, and supervisory tasks.
The classification of crypto-assets is aligned with EU regulations, therefore it distinguishes between so-called asset-based tokens, electronic money tokens, and those crypto-assets that do not qualify as either of these. The MNB will supervise this market. (portfolio.hu; novekedes.hu; rtl.hu)
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