Credit rating agencies are still struggling to change their views on Hungary, but sooner or later it will come as Hungary has achieved results in recent years that have been a success in Europe, the Minister of National Economy said.
Mihály Varga talked about this on M1’s current channel on Monday that he was chosen this year’s Emerging Markets by Euromoney, the finance minister of the year in the Central and Eastern European region.
The newspaper collects the views of economists
Year after year, the newspaper collects the views of economists, analysts and bankers on the world’s best finance ministers and central bank governors. At the end of the week, Mihály Varga took over the recognition in Lima as part of the International Monetary Fund (IMF) and World Bank annual meeting.
Mihály Varga emphasized that the conversion of Swiss franc loans into forints was indeed a success story, and although he received the award personally, there are many people behind him. He gave examples of the banking association, the government, the ministry, small and medium-sized enterprises and Hungarian workers.
The prize is also a recognition of investment growth
debt reduction and the fight against the black economy, the minister stressed. According to Mihály Varga, Hungary has regained its earlier image in the early 2000s.
He also said that he had met many partners at the Lima General Assembly, who fully recognize the Hungarian achievements of recent years, want to do business with Hungary, see a stable country and bring in capital.
Mihály Varga, referring to the words of Christine Lagarde, Managing Director of the IMF, explained that the currency fund should change as well.
They could not handle the crisis
The IMF also recognized that they could not handle the crisis with the tools of former orthodox, liberal, neoliberal economic policies. It is now possible for the IMF to incorporate new elements into its practice; Hungary is a good example of this, choosing its own path, said the Minister of National Economy (MTI).