Faced with a declining birth rate and an unwilling to fill population shortfalls with immigrants like some of its European neighbors, Hungary has rolled out a seven-point “Family Protection Action Plan” which showers boatloads of cash, loan assistance and tax breaks to couples who agree to crank out lots of Hungarian children.
For starters, the state is offering $35,000 to couples who get married and have at least three children. Specifically, women under 40 who are getting married for the first time will receive an interest-free, general-purpose loan of $35,000. Upon the birth of the couple’s first and second children, loan payments will be suspended for three years each – with 1/3 of the principal paid off after the second child. After the third child is born, the debt will be wiped out.
Couples with two or more children can also use their loans for the purchase of an existing property – but it gets better.
“People living in villages should wait just a little bit longer,” said Prime Minister Viktor Orbán in February. “Within a few weeks, we would like to announce a scheme specifically customised to their needs. This means that today young married couples agreeing to have two children are eligible for grants worth 22 million forints ($75,000 US) for starting their lives and creating their first homes, while families agreeing to have three children are eligible for grants worth 35 million forints ($120,000 US),” said Orbán in his February announcement.
Hungary will also help out with mortgages – picking up the tab on roughly $13,500 US after the couple’s third child, with an additional $3,500 US of relief for each further child. – READ MORE