The Hungarian Prime Minister Viktor Orban has announced a government reshuffle. The reason is that the post of central bank chief “unfortunately becomes vacant on March 1”Orban said on Sunday in a Facebook post with.
“It is clear that the person who takes over this post cannot be the chief minister (responsible for the economy and public finances),” the statement continued. Orban’s.
Until now, Orban’s old ally Gyorgy Matolcsy has headed the Hungarian monetary authority. He has been at the head of the Hungarian National Bank since 2013. Orban and Matolcsy blame each other for the current high inflation.
Orban, in office since 2010, is struggling to lead the Hungarian economy out of last year’s recession. Inflation rose above 25 percent in the first quarter, the highest in the European Union.
Orban wrote in his statement that his government was planning a budget “that would enable growth of three to five percent.”
A prerequisite for such an economic action plan is a coordinated economic policy, Orban continued. Hungary is well on its way to achieving this.
Finance Minister Mihaly Varga is considered the favourite to succeed Matolcsy as head of the central bank, while Economics Minister Marton Nagy, a former central banker, took responsibility for public finances Hungary in a combined Ministry of Economic Affairs and Public Finance. (Reuters)
