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Hungary needs to accelerate economic growth, says Simor

Hungary must bring down its high sovereign debt and high levels of foreign currency denominated loans, while it also needs to take steps to accelerate economic growth, Central Bank of Hungary governor András Simor said at an event organized by Cambridge University in the UK. In addition to low fiscal disciple and the need to improve households' saving habits, Hungary is facing several other major challenges, including a high sovereign debt and the still high level of foreign currency denominated loans, Simor said, adding that these problems need to be tackled while the government also has to take efforts to put the economy back on a sustainable growth path.