AmCham business forum – Matolcsy highlights importance of higher competitiveness
Budapest, December 14 (MTI) – Increasing Hungary’s competitiveness is a top priority for the country, central bank governor Gyorgy Matolcsy told a business forum organised by the American Chamber of Commerce (AmCham) on Monday.
Concerning the achievements of the National Bank, Matolcsy said it had considerably contributed to the government’s efforts to reduce the budget deficit. He argued that the central bank’s easing cycle had helped reduce interest payments and bond yields, which could also contribute to a drop in Hungary’s external debt.
The easing cycle has helped reduce the undershoot of the inflation target and contributed to higher economic output; lower lending rates have contributed to increased price stability, and have boosted exports and domestic consumption, Matolcsy said.
Answering a question about the recent climate summit in Paris, Matolcsy said that saving energy should receive increased focus. He argued that new industries and programmes are needed that will increase competitiveness through more energy saving.