Government promises to uphold EBRD agreement

History

The Hungarian government will keep its agreement with the European Bank for Reconstruction and Development (EBRD), National Economy Minister Mihály Varga said today, following a meeting with EBRD vice president for risk Betsy Nelson.

The government hopes that EBRD will assist in encouraging economic growth in the coming years, the National Economy Ministry said in a statement.

Under the agreement, Hungary has committed to reducing in the bank levy.

The minister said earlier that economic growth in Hungary is happening without a real increase in lending but the government hopes that "a reduction in the bank levy will be matched by an increase in lending".

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