Finance Minister Mihály Varga and National Bank of Hungary (NBH) governor György Matolcsy discussed recent positive economic developments such as the affirmation of Hungary’s credit rating by Moody’s and the successful euro bond issue. Both 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 improving balance indicators amid the uncertain international environment, reducing inflation and putting the Hungarian economic on a sustainable growth path.