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EBRD: Hungarian government fulfilling its contractual obligations

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EBRD painted a favorable and improving picture of Hungary’s economic outlook, the Hungarian director at the European Bank for Reconstruction and Development (EBRD) Antal Nikoetti told Magyar Hírlap today. 

According to the former Deputy Secretary of State, the Hungarian government is fulfilling its contractual obligations with the EBRD, adding that he believes economic growth is more important for the banking sector than the reduction of the bank levy.  

Nikoletti acknowledged, however, that the bank levy reduction is a prerequisite for increased lending activity, but warned that such increased lending must be adjusted to real demand rather than being artificially boosted. Nikoletti dismissed criticism that the government set increased lending activity as a pre-condition for decreasing the bank levy saying there is no such condition.

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