Risk of Rising Inflation 'Minimal' - Orbán

Government

Image by photocosmos1 / Shutterstock.com

Prime Minister Viktor Orbán said the risk of rising inflation was "minimal" and that restoring economic growth was the bigger issue in a weekly interview with public radio on Friday, according to a report by state news wire MTI.

Orbán noted that he occasionally consulted with representatives of the IMF and ECB on outlooks, and said he had spoken with National Bank of Hungary (MNB) governor Gyorgy Matolcsy on Thursday.

"I see that the risk of a rise in inflation in Hungary is minimal, rather the issue is whether we can boost economic performance at the envisioned pace and whether the central bank will be able to reduce interest rates at the pace that it envisions," Orbán told Kossuth Rádió.

"I don't see the risk of inflation as the biggest danger, but growth. Our common goal, for the central bank, for the government, for monetary policy, for fiscal policy should be to calmly and coolly...gradually help businesses invest, develop, create jobs, advance in terms of technology and support the return of economic growth to a high level, and that also requires lower interest rates, which, while taking into consideration the defense of the forint, I think the central bank can ensure this year," he added.

Orbán pointed to measures the government had already taken, such as subsidized credit schemes, to encourage businesses to invest in spite of the high-interest rate environment.

The cabinet member in charge of economic growth is the national economy minister, he added.

ADVERTISEMENT

MBH Bank Introduces MREL-eligible Bonds on BSE Banking

MBH Bank Introduces MREL-eligible Bonds on BSE

Lawmakers to Vote Monday on New President Parliament

Lawmakers to Vote Monday on New President

Wider Margins Lift Magyar Telekom Earnings Telco

Wider Margins Lift Magyar Telekom Earnings

Hungarians Prioritizing Travel Over Renovations This Year Tourism

Hungarians Prioritizing Travel Over Renovations This Year

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.