György Matolcsy to take over as central bank governor
Economy Minister György Matolcsy will be Hungary’s next central bank governor, Prime Minister Viktor Orbán announced in his regular interview with public radio Kossuth Rádió.
Orbán confirmed earlier leaked expectations based on leaked reports, citing his experience in governance and also his performance as economy minister which reduced the country’s public debt and kept the budget deficit in check.
Initial reports of Matolcsy’s potential appointment led to the weakening of Hungarian assets seeing his track record of unpredictable policy making as well as his full loyalty to the Fidesz government, which raised concerns about central bank independence.
Matolcsy’s position as economy ministerial post will be assumed by current senior IMF negotiator Mihály Varga. The new central bank governor will have his hearing in front of a parliamentary committee later Friday. Governor András Simor’s six-year term officially ends on March 3.
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.