The NBH governor, presenting the bank’s report on 2021 in parliament, said Hungary was at risk of letting down future generations, who may justifiably ask why policymaking “went astray”.
The finance minister said high energy prices are tipping all European economies towards recession.
Societies and economies turning digital, carbon-dioxide-free and more open is “a challenge and an opportunity at the same time”, György Matolcsy said.
The NBH governor said that to eliminate the “last vestiges of the crisis”, Hungary will have to focus on competitiveness.
Notwithstanding Hungary’s obligation to adopt the euro, the single currency should only be adopted solely on the basis of Hungary’s national interests.
Prime Minister Viktor Orbán said perilous times are ahead for the global economy.
NBH governor has said investment growth, job creation and cheap credit will be necessary for Hungary’s economic recovery from the coronavirus crisis.
National Bank of Hungary (NBH) governor György Matolcsy has outlined 12 reforms he said would be necessary to preserve and increase Hungary’s success in the coming decade.
György Matolcsy, governor of the National Bank of Hungary (MNB), announced new monetary measures focused on supporting the protection of Hungary’s economy.
Significant progress has been made in the region over the past 15 years, but local infrastructure is still not on par with that in the West. At the same time, western European companies have staked out local markets.
The governor said growth rates are consistently 3 percent above the European Union average and Hungary has again taken the lead in the region from Poland.
György Matolcsy has called on members of the European community to start a dialogue on reforming the eurozone.
György Matolcsy said the goal is to approach Austria’s level of development and to reach the European average.