In that respect, Hungary is in "first place" in comparison with other European Union member states, Varga said. "The role of households in financing state debt is strongest in Hungary," he added.

He said the government's strategy to boost households' share of state debt, while reducing overall state debt levels aimed to improve stability.

Households' share of state debt has risen from 3pc in 2010 to over 20pc, while non-residents' holdings have fallen from 65pc to 40pc, and the ratio of FX debt has dropped from 50pc to under 30pc, he added.

That means more interest is going to Hungarians and less to foreign creditors, he said.

Government securities offer households a secure, high-yield and tax-free investment, while giving the state stable and predictable financing, he added.

State Treasury closes sales points, offers services in post offices

The Hungarian State Treasury said on Monday that from January its sales points operating one or two days a week will be closed, instead its services will be available at more than 500 post offices in addition to the customer service points in the 19 county seats.

The Treasury said it is making the changes as the popularity of its online services is growing. At the sales points the number of investment transactions initiated in person fell by one-third this year compared to 2022.

It noted that more than 1m citizens who have a securities account with them already initiate 80pc of their investment transactions either through their online platform or a mobile app. Some 60pc of new customers also open their treasury securities account online.

Source: 
MTI - The Hungarian News Agency, founded in 1881.

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