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Economy homes in on consolidation

The condition of Hungarian markets has returned to a state not characterized by a direct risk of crisis said András Simor, president of the Hungarian National Bank (MNB), in London.

Reduction of inflation is more of a priority than promotion of growth. If the increase in wages exceeds the increase of productivity, the reduction of the base rate has to be stopped, he added.

The central bank and government differ on the issue of the forint rate. Joining the Eurozone will strongly affect the county’s development, opined former financial minister Lajos Bokros, who also warned about non-compliance with the Maastricht directives. Monetary policy must follow a strict curve without generating recession, László Karvalits, deputy chair of monetary bank stressed. (Gazdasági Rádió, Napi Gazdaság)