Hungary’s former Minister of Finance Mihály Varga was officially sworn in as the new Governor of the Hungarian National Bank on Monday, pledging to serve the interests of the nation during his six-year term starting this week.
Minister of Finance Mihály Varga of Hungary shared with a reporter what was on the agenda of the ECOFIN meeting in Luxembourg. The recovery of Europe’s economy, aid to Ukraine financed by loans, climate finance, and the upcoming World Bank and IMF meeting were the topics discussed by Europe’s top financial leaders.
Enumerating the factors strengthening the positive outlook for the economy, the Hungarian finance minister stated that the country’s export performance is very good, and in terms of population, Hungary ranks 94th among the countries of the world, while it stands at 34th place in terms of export indicators.
The minister reminded all that the independent Hungarian Ministry of Finance was the first lasting success of the revolution. In April 1848, Lajos Kossuth began working on the establishment of the ministry, and it started its operations in May of that year.
The 2024 budget is a defence budget because during times of war, Hungary needs a budget that guarantees its security, protects families, pensions, jobs, and reduces utility costs, the Hungarian finance minister stated in parliament on Tuesday.
Hungarian Prime Minister Viktor Orbán has nominated incumbent Finance Minister Mihály Varga to assume the role of Governor of the Central Bank of Hungary in March. The position will become vacant as the current governor, György Matolcsy, steps down after completing two terms. The central bank is expected to play a pivotal role in shaping Hungary’s new economic strategy.
Hungarian Prime Minister Viktor Orbán addressed pressing issues in his latest radio interview, including the precarious state of the Russia–Ukraine war, the potential of a peace-focused budget, and the government’s unwavering commitment to wage increases and economic stability. He praised exiting National Bank Governor György Matolcsy, and announced that he is nominating Finance Minister Mihály Varga for the post.
Hungarian Finance Minister Mihály Varga presented the government’s draft budget for next year to parliament on Monday. ‘The 2025 budget can be a budget for new opportunities, a budget for new economic policy, and a budget for peace,’ he emphasized in his speech.
According to Hungarian Finance Minister Mihály Varga, Hungary has received an additional HUF 184 billion from previously frozen EU funds. Varga pointed out that these funds serve as an ex-post contribution to the wage increases for teachers and kindergarten teachers, which were pre-financed from the budget.
‘Through the Kun and Jász peoples, this city still represents the Central Asian roots of the Hungarians today,’ Finance Minister Mihály Varga said at the inauguration, adding that herefore, the symbolic building of the Treasure of Karcag Art and Conference Centre, known as the Shaman Drum, has been placed in probably the best location in the country.
Hungarian Conservative is a quarterly magazine on contemporary political, philosophical and cultural issues from a conservative perspective.
