Any possible future global economic crisis will not affect Hungary because the incoming Fidesz government will have a contingency plan should a crisis emerge, Gyorgy Matolcsy, the incoming economy minister, told Wednesday’s Magyar Nemzet daily.
Matolcsy said in the interview to the conservative paper that the Fidesz government would factor into its plans the possibility that sustainable growth fails to return to Europe until 2012.
Matolcsy also insisted that the past few years had seen bad policymaking at Hungary’s central bank. He said that the rate-setters had reduced interest rates too slowly and had therefore dampened growth prospects. He said the entire leadership of the National Bank of Hungary should resign.
The incoming minister said that the new government would soon officially submit a plan to Brussels to change how 3,000 billion forints-worth of EU financing is distributed with a view to boosting domestic small and medium-sized businesses.