Central Bank Governor: Hungary’s Target To Be Among Europe’s Top Five

  • 18 Dec 2019 9:53 AM
  • Hungary Matters
Central Bank Governor: Hungary’s Target To Be Among Europe’s Top Five
Hungary’s targets for the upcoming decade include becoming one of the top 5 European countries in terms of level of development and quality of life, the central bank governor, György Matolcsy, said in an article published by economic news portal novekedes.hu.

The goal is to approach Austria’s level of development and to reach the European average, he said.

He said that in order to achieve these goals, various tasks have to be fulfilled, including some that have already been introduced.

These include carrying out a complete turnaround in terms of competitiveness and achieving world-class education, health care and transport infrastructure.He saidcomplete re-industrialisation is also required, as well as a monetary revolution based on 2.0 central bank innovations.

He also cited a successful turn in demographics to ensure at least 110,000 new births each year and developing Budapest and other large cities into a united network, while creating a single Carpathian Basin economic area.

Additionally, he said a north-south axis linking the Visegrad Group was needed, creating a European region of 60-70 million inhabitants through speeded up developments and to carrying out a green and sustainability agenda in all areas of life.

MTI Photo: Bruzák Noémi

  • How does this content make you feel?

XpatLoop Media Partner

Hungary Matters

Launched in January 2014, this twice-daily newsletter covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI. Click the title above for more info, and to subscribe.

Explore More Reports

  • "100 Richest" Hungarians Revealed

    "100 Richest" Hungarians Revealed

    • 10 May 2019 8:27 AM

    OTP Bank Chairman-CEO Sándor Csányi (pictured on top) leads this yearʼs list of the "100 Richest" Hungarians with wealth of HUF 360 billion, followed by oligarch Lőrinc Mészáros - a close ally of the government and Prime Minister Viktor Orbán - who has wealth of HUF 296 bln.