The Finance Ministry press release contains all the successes and all the good news except for the weakness of the forint.

On Thursday, the Ministry of Finance issued a press release entitled “Cooperation between the government and the Central Bank remains close.” According to the ministry, Finance Minister Mihaly Varga and Central Bank Governor Giorgi Matulci met to discuss “favorable economic developments in recent days.”

These included Moody’s decision on Friday, in which it affirmed Hungary’s debt rating, and the new bond issuance, as well as the decision of the European Central Bank on Monday, which approved the domestic plan to ease the budget to cover hundreds of billions in losses accumulated by the Hungarian national in a bank.

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And then the rest of the ad:

For example, Moody’s stressed during its decision on Friday that due to “institutional shortcomings,” access to EU funds is a slow and “noisy” process, and the organization also sees long-term challenges related to competitiveness in Hungary.

The fact that Hungary unexpectedly issued another foreign currency bond shows, on the one hand, that the budget is still in a very difficult situation, and on the other hand, along with several other operations, contributed to the fact that the forint fell again above 390 against the euro on Thursday.

In the announcement, the Finance Ministry also notes that since April, Varga and Matulski have held regular professional consultations, as they also want to show the outside world the extent of their agreement. This has not been the case before, we write more about mutual criticism here:

The opening photo was taken at the first meeting in April.




HVG


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