The number of “baby bond” accounts at the State Treasury has risen close to 160,000, according to daily Magyar Idok on Tuesday. From 2006, a 42,500 forint (EUR 131) start-of-life subsidy has been available to all Hungarian-born citizens residing in the country, but the Treasury has been exclusively managing the baby bonds since the autumn of 2012.
The bonds are now available for Hungarian children living abroad who were born after June 30, 2017. Around 47 billion forints is currently available in the accounts, Deputy Finance Minister Andras Tallai told the paper. He noted that parents, grandparents and other relatives can open a Start account to initiate a savings account for the children in their families. Data from the Central Statistical Office (KSH) shows there were about 92,000 births in Hungary last year.