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Hungary will adopt the euro “in the coming decades” and needs to learn from the lessons of the past concerning the processes affecting the common currency, National Bank of Hungary (NBH) governor György Matolcsy said in a presentation delivered at the central bank’s annual Lamfalussy Lectures.
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The National Bank of Hungary’s Monetary Council decided to keep the central bank’s key rate on hold at 0.90% at a monthly policy meeting.
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The new Ft 500 banknote entered into circulation on February 1. The note has new security elements that make it more resistant to counterfeiting, the Hungarian National Bank (MNB) announced.
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Economic research institute GKI has raised its projection for this year’s GDP growth to 3.4% from 3.2% in a forecast released in December.
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The establishment of the International Investment Bank’s headquarters in Budapest was the main topic of discussions between Prime Minister Viktor Orbán and Nikolay Kosov, the IIB’s President, at the prime minister’s offices in Budapest.
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With the 7.5 per cent tax that multinational companies have to pay, Hungary is now ahead of other tax havens like Ireland, Cyprus or Malta.
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