COVID 19 – CRISIS MANAGEMENT POLICIES IN CENTRAL EUROPE- HUNGARY – No. 2

The first set of financial and economic measures taken to mitigate the socio-economic impact of the COVID-19 epidemic in Hungary was set out in the Government Decree No. 47/2020. (III.18.) (hereinafter: the “Government Decree”) published on 18 March 2020 in the Official Journal.

Here are the various measures that we detail in our legal bulletin:COVID-19 Crisis management policies in central Europe Hungary-Bulletin n2

• Moratorium period of credit, loan and leasing contracts;
• Ceiling on APR of consumer credits;
• Commercial leases in the most affected areas: prohibition of termination and increase of rent;
• Suspension of the payment of social security contributions in the most affected sectors;
• Suspension of the payment of the lump-sum tax for microenterprises (in Hungarian: “KATA”);
• Extraordinary rules concerning working conditions.

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