Varga: Hungary could turn to court over Eximbank debate with Eurostat


wikimedia commons

If Hungary’s dispute with the European Union’s statistics office Eurostat “ends unfavorably” for Hungary regarding the outlays of state-owned Eximbank, the government is ready to defend its stand in court, Hungary’s National Economy Minister Mihály Varga said today, according to reports.

Speaking at a press conference, the minister said that if “the professional dispute ends unfavorably for us, we will turn to court … we view Eurostatʼs initiative as somewhat targeted”,  according to MTI. The minister reportedly added that the outlays of Eximbank are business loans with a return. 

Eurostat recommended the government redefine Eximbankʼs status to be accounted for as part of the government, the statistics office told earlier. Eurostat added that currently it is in consultations with Hungary’s Central Statistical Office (KSH) on the matter.

Following amendments to legislation in 2013, Eximbank became available to lend domestically, and such outlays have increased considerably since, the website noted. According to its calculations, the change would raise Maastricht debt by about 2 percentage points of GDP, even if it would not have much effect on the deficit.


Purchasing Managers' Index rises Analysis

Purchasing Managers' Index rises

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

New Jewish cultural hub opens in Budapest City

New Jewish cultural hub opens in Budapest


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.