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Dec 17, 2019

Central Bank Governor: Hungary aims to become one of the top five countries in Europe

György Matolcsy said the goal is to approach Austria’s level of development and to reach the European average.

Central bank governor György Matolcsy has said Hungary’s targets for the upcoming decade include becoming one of the top five European countries in terms of level of development and quality of life.

In an article for novekedes.hu, Matolcsy said the goal is to approach Austria’s level of development and to reach the European average. He said that in order to achieve these goals, various tasks have to be fulfilled, including some that have already been introduced.

The governor said these include carrying out a complete turnaround in terms of competitiveness and achieving world-class education, healthcare and transport infrastructure. He said complete re-industrialization is also required, as well as a monetary revolution based on 2.0 central bank innovations.

Matolcsy also cited a successful turn in demographics to ensure at least 110,000 new births each year and developing Budapest and other large cities into a united network, while creating a single Carpathian Basin economic area.

Finally, he said a north-south axis linking the Visegrad Group was needed, creating a European region of 60-70 million inhabitants through speeded up developments and to carrying out a green and sustainability agenda in all areas of life.

Photo credit: novekedes.hu