Varga Talks Up Stronger Hungarian Forint
- 7 Oct 2014 9:00 AM
The government would like the forint to be stronger at the end of the year than now, Economy Minister Mihály Varga said Friday morning in a radio interview. Analysts have said they expect the government to bolster the forint in order to reduce the state debt in relation to GDP ratio in the year-end statistics, Napi Gazdaság notes.
Each 1% change in the exchange rate makes a 0.3 percentage point change in the debt to GDP ratio, as 40% of the state debt is in foreign currency, said K&H Bank analyst Dávid Németh.
Source: Hungary Around the Clock.
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