Investment growth, job creation and cheap credit key to recovery, says Hungary’s central bank’s governor

National Bank of Hungary (NBH) governor György Matolcsy said investment growth, job creation and cheap credit will be necessary for Hungary’s economic recovery from the coronavirus crisis in an interview published in Monday’s issue of daily Magyar Nemzet.

“We have every chance for Hungary to achieve one of the fastest rates of post-crisis economic growth in the past century. But that will require achieving three things,” Matolcsy told Magyar Nemzet.

“First, the investment rate must remain over 25 percent each year, and it has to be raised over 27 percent from 2022, because investments are the foundation for future economic growth,” he said.

“This will require an increase in state investments as well as support for investments by households,” he added.

He said the other two factors that must be achieved are creating as many jobs as have been lost because of the coronavirus crisis, and making cheap credit available to corporate and retail borrowers.