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MATOLCSY TO MPS: ECONOMIC POLICY TOOK 'WRONG TURN' IN 2021

 

Economic policymaking already “took a wrong turn” in 2021, before the war in Ukraine and sanctions of 2022, György Matolcsy, the head of Hungary’s central bank (NBH) told MPs on Wednesday. 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”. “[W]e lost our way in 2021, and regrettably this continued in 2022,” he said. Matolcsy insisted that it was as yet unclear whether the “wrong turn” could be remedied this year.