Hungarian Conservative

During the regime change following the fall of the Iron Curtain, the Hungarian National Bank gradually sold almost all of the country’s gold reserve, which by 1992 fell to around three tonnes, with the proceeds from the sale of gold invested in foreign government bonds deemed safe and high-yielding. However, the promised returns were not realized.

Mihály Varga pointed out during the introductory economic policy roundtable discussion that the government has taken measures to reduce inflation risks, which have yielded results. This is confirmed by the analyses of major credit rating agencies, which are ‘filled with positive findings,’ he said.