Chamber, MNB submit economic policy proposals

Initiatives

The Hungarian Chamber of Commerce and Industry (MKIK) and the National Bank of Hungary (MNB) have together produced a package of proposals for the government to consider when it drafts its new strategy for economic policy, daily Magyar Idők reported on Wednesday, cited by state news wire MTI.   

The more than 50-page document draws on in-depth interviews with some 2,000 businesses. The government mandated the MKIK and the MNB to draw up the proposals before the April 8 elections.

The strategic goal is to keep the country on a sustainable path of increasing growth in the coming years, while reducing the gap between Hungary and Western Europe, MKIK Chairman László  Parragh told the pro-government paper.  

Parragh acknowledged the governmentʼs measures in its last two terms to deal with Hungaryʼs high state debt and unemployment, and to jump-start the economy, but noted the emergence of new challenges. The document addresses these and makes proposals for, among other things, restructuring the scale of redistribution while maintaining the fiscal balance, he added.  

Boosting the efficiency of the state is another important point, as is wage convergence, Parragh said, adding that a six-year wage agreement reached in 2016 could be reviewed and expanded. 

The MKIK has written a separate package of proposals on education developments that stresses support for vocational training and life-long learning, the chairman noted.

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