Hungarian Government Security Plus (MÁP+), the most popular product of the retail government securities market turned two years old this week, and its stock is now over 5,672 billion forints, the Minister of Finance announced in a Facebook post on Sunday.
Mihály Varga pointed out that this accounts for 60 percent of the savings in the entire retail government securities market. "Our goal with this product was clear when we created it: to offer a simple, transparent, easily accessible and profitable investment product to Hungarian families," he explained, adding that the advantages of MÁP + are that the annually rising interest rate provides an outstanding return for both short and long term investments,
it can be easily redeemed on interest payment dates, and it is exempt from interest tax.
"MÁP + also contributed to the fact that Hungary maintained its financial stability during the crisis, and has been able to protect against the pandemic and its effects on its own, without external help," Mihály Varga concluded.