Gyorgy Matolcsy - Photo: MTI

NBH governor addresses Boao Forum for Asia

Achieving environmental sustainability is the biggest challenge of the 21st century, Gyorgy Matolcsy, governor of the National Bank of Hungary (NBH), told the Boao Forum for Asia conference in China's southern Hainan province on Wednesday, urging a transition from quantitative to qualitative growth in the interest of ensuring a sustainable growth path.

According to a statement from the NBH, speakers at a panel discussion were in agreement with Matolcsy that though the optimal line between tightening monetary policy and preserving the potential for economic growth was thin, sustainable development was impossible without financial stability.

On the sidelines of the event, Matolcsy held talks with People’s Bank of China Governor Yi Gang, Hainan province Vice Governor Chen Huaiyu and Boao Forum for Asia vice chairman Zhou Xiaochuan, the NBH said.

Matolcsy on Friday will address a roundtable discussion with Zhou and Doni P. Joewono, deputy governor of Indonesia’s central bank, the statement said.

The annual Boao Forum for Asia is Asia’s top economic forum. This year’s event features more than 160 guest speakers and focuses on finding solutions to the challenges of the global environment.

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