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In a statement issued Monday, the association said this would require a predictable economic policy environment based on market mechanisms and a level playing field.
The statement was issued after the association’s annual board meeting, at which National Bank of Hungary (MNB) Governor Mihály Varga and Finance Minister András Kármán spoke.
The association called for the gradual rollback of sectoral taxes, arguing that the bank levy, windfall profit tax and transaction duty did “more harm than good.”
It added that the retail loan rate freeze and requirements for installing ATMs interfered with market competition and were detrimental to promoting financial literacy in the country.
The association said the prospect of adopting the euro could give a boost to the entire economy while helping create the conditions for a more predictable interest rate environment with lower rates.
It added that state-subsidized loans should complement market-based lending without distorting market supply and demand.
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