Capital export might advance the development of the Hungarian economy too, as it often entails increase in export opportunities announced János Veres Finance Minister yesterday at the conference of the Hungarian Atlantic Council. Veres also said that the improving foreign economic market is one of the four essential sources of the expanding Hungarian economy. Turnover of Russian-Hungarian trade grew from $3,6 billion in 2003 to $8,2 billion last year. According to András Simor, chairman of the Hungarian Central Bank, those Hungarian investments abroad will be definitely favorable in the long run, though there’s no knowing of their short-term impact on the current account. Due to the amended laws, he also expects an increase in Hungarian public foreign investments, for example, by the portfolio diversification of the pension funds. (Magyar Hirlap)
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