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György Matolcsy, the governor of the National Bank of Hungary, has said Hungary should look to Singapore as an example for achieving economic success.
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The National Bank of Hungary will protect the country’s achievements of the past ten years, central bank governor György Matolcsy said in an interview to MTI, insisting that the Hungarian economy was “on the brink of great opportunities”.
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Moodyʼs has decided to change the outlook on the Hungarian banking system to negative from stable, according to a press release sent to the Budapest Business Journal.
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Trading on the Budapest Stock Exchange was suspended due to a technical error in the trading system, the BSE announced on Tuesday.
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The International Monetary Fund (IMF) projects Hungary’s economy will contract by 3.1% this year in its latest World Economic Outlook.
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The pro-government media suspects that the extreme volatility the Hungarian currency has shown over the past few days is due to speculative sales. They all believe that American-Hungarian financier George Soros may be the one pulling the strings. A liberal weekly ridicules that assumption.
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