Government committed to keeping EBRD agreement

Budapest (MTI) – Hungary’s government is committed to keeping its agreement with the European Bank for Reconstruction and Development (EBRD), Economy Minister Mihaly Varga said on Thursday, after meeting with the EBRD’s vice president for risk Betsy Nelson.

The government is counting on the EBRD’s role in boosting economic growth in the coming years, the ministry said in a statement. Under the agreement, the government committed to a reduction in the bank levy.

The ministry noted that lawmakers had approved early in summer legislation reducing the bank levy, and the government had submitted amendments to the law based on observations made by the European Commission.

“The cabinet is consulting representatives of financial institutions regarding disputed questions on a continual basis,” Varga said.

In addition to the implementation of the agreement on the banking sector, Varga and Nelson discussed the EBRD’s country strategy for Hungary. The document outlines the course of the EBRD’s activities in Hungary in the coming four years.

The government wants to deepen its ties with the EBRD to enable the financing of even more investments, the ministry said.

Source: http://mtva.hu/hu/hungary-matters