The building of the NBH in Budapest – Photo: wikimedia

Finance Ministry: Government, central bank continue ‘close cooperation’

Finance Minister Mihaly Varga and National Bank of Hungary (NBH) governor Gyorgy Matolcsy discussed recent positive economic developments such as the affirmation of Hungary's debtor rating by Moody's and the successful euro bond issue, the ministry said in a statement on Thursday.

The sides agreed that efforts to bring down inflation and to reduce the budget deficit and the state debt should be continued.

They also welcomed the decision of the European Central Bank that cleared the government’s proposed amendment to the central bank act as the new rules will broaden the central bank’s room to manoeuvre and increase the stability of the budget.

Varga and Matolcsy have met regularly since April with the shared goal of continuing to improve balance indicators amid the uncertain international environment, reduce inflation and put the Hungarian economic on a sustainable growth path, the ministry said.

Leave a Reply