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Speaking after a two-day Bank for International Settlements (BIS) meeting in Basel, Varga emphasized the need for central bank cooperation to ensure international financial stability.
Despite the global challenges, he said Hungary’s economic position remains stable.
The MNB projects GDP growth of 0.8% in 2025, supported by a rebound in confidence and a European recovery in the second half of the year.
Varga acknowledged a prolonged decline in investment, though household consumption has remained steady.
He highlighted the MNB’s Certified Corporate Loan Scheme as a tool to improve SME access to investment financing.
Although consumer price inflation is set to stay above the MNB’s 3% ±1 percentage point tolerance band for the remainder of the y ear, tight monetary policy will help contain inflation and support overall stability, he added.
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