The building of the NBH in Budapest – Photo: wikimedia

Finance minister, central bank governor hold consultation

Finance Minister Mihaly Varga and National Bank of Hungary (NBH) governor Gyorgy Matolcsy discussed the current economic situation and "the most important tasks of economic policy" at a meeting on Thursday, the NBH and the finance ministry said in a joint statement.

The central bank and the ministry acknowledged the successful management of the coronavirus crisis thanks to a cooperation between economic policy and branches of the economy. Further close cooperation between fiscal and monetary policy is of “key importance” in resolving the current crisis resulting from the war in Ukraine and sanctions, they said.

“Working together contributes to curbing inflation, reducing interest rates, further cutting the deficit and the state debt, and returning to balanced growth,” they said.

They agreed to hold consultations in person on a regular basis.

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