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Matolcsy outlines reforms for coming decade

National Bank of Hungary (MNB) governor György Matolcsy outlined twelve reforms he said would be necessary to preserve and increase Hungaryʼs success in the coming decade in an op-ed piece published on the website, state news wire MTI reports.

György Matolcsy

"To mitigate and even to shape the dramatic turnarounds of our decade, we must implement reforms and turnarounds of a similar scale. If we donʼt pivot, the world will turn with us, but not in a direction favorable to us," Matolcsy said in the piece, urging the reforms he recommended to be brought forward.

He said "lessons from history" teach that a "full demographic turnaround, with at least 110,000 births a year", "a lifestyle turnaround, exemplifying a healthy and active lifestyle", and a "complete turnaround of the healthcare system" will be necessary by 2030.

He also put a "sustainable pension system", a "competitive education system with universities among the top 100", a "new financial system produced from the marriage of money and technology", "world-class transport infrastructure", a "healthy farm sector and safe food industry", "capital- and technology-intensive industry", "advanced and creative industry", a "varied and dynamic service sector" and "competitive and efficient state institutions that set an example" among the goals Hungary should aim to achieve.