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Mihály Varga was appointed economy minister with effect from Thursday, a resolution by the president published in the official gazette Magyar Közlöny shows. Varga ceased to be minister without portfolio in charge of talks with the International Monetary Fund and the European Union with effect from Wednesday, under the resolution. Varga's nomination to the post of economy minister was announced last Friday by Prime Minister Viktor Orbán. He replaces György Matolcsy, who has become the new governor of the National Bank of Hungary.