The president of the MNB expects the fastest economic recovery in the last hundred years.

According to the president of the Central Bank, there is a good chance that Hungary will achieve one of the fastest post-crisis economic growth in the last hundred years. However, it will be decisive, according to him, when the protection of the population against infection will be achieved.

György Matolcsy to Hungarian nation In his Monday edition, he said that the epidemic had caused the fifth-largest decline in Hungary in the last hundred years, causing many short-term injuries, but without destroying the basic fabric of the economy, because “we have previously strengthened our immune systems and managed the crisis well. ” He noted that, in addition to government measures, the Magyar Nemzeti Bank (MNB) provided around HUF 5.8 billion, or 13 percent of GDP, to the economy during the year, thus preventing the economic and health crisis from unfolding. turn into a financial crisis.

However, more steps will be needed to keep up the pace of recovery. “

Added.

On the one hand, he said, the investment rate should be kept above 25 percent per year, which will require both increased public investment and support for retail investment. On the other hand, he said that instead of the jobs lost during the crisis, at least the same number of jobs should be created, but more productive than before. Finally, no-credit recovery should be avoided.

“To maintain the growth surplus of two to three percent achieved in recent years against the euro area, a complete change in competitiveness is needed,” said the governor of the MNB. First of all, it is necessary to accelerate the digital transition, as well as prepare for the green revolution, because ecological sustainability requires the introduction of new technologies. He noted that without demographic change, there will be no successful long-term economic recovery.

György Matolcsy also told the newspaper that if the opposition came to power in 2022, in his view, it would mean selling strategic sectors, exposing the economy to foreign investors through external borrowing, speculation and slowness at the workplace. strategies that would lead to a moral and economic crisis, to a lasting backwardness, and then to face the crisis that would necessarily arise with austerity.



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