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EBRD chairman on Hungary: Many investors raise question of predictability

Initiatives

European Bank for Reconstruction and Development (EBRD) chairman Sir Suma Chakrabarti will conduct talks on further cooperation in the SME sector, and the financial and energy sectors during his visit to Hungary next week. Sir Chakrabarti has given an interview to MTI’s correspondent in London in connection with his upcoming visit to Hungary, saying the EBRD has long-standing experience in the development of the region's SME sector.

He added that "many investors raise the question of predictability" in connection with the Hungarian financial sector, and therefore he would like to "obtain information on what predictable economic policy framework can be expected" in the sector. 

In connection with the National Bank of Hungary (MNB)’s Funding for Growth scheme, Sir Chakrabarti said the EBRD fully agrees with the Hungarian government that this sector constitutes the "backbone of the economy,” and approves of the government's policy of giving priority to supporting the growth of SMEs. 

When asked about the central bank's economic stimulus program conducted on two fronts - through the cycle of interest rate cuts and through the Funding for Growth scheme, Sir Chakrabarti said this could well prove a rational model.

Sir Chakrabarti emphasized that the EBRD will provide financing of about €100 million for Hungarian programs this year, a substantial increase from last year.

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