Bloomberg News

Hungary’s Cabinet Sees Forint Rebounding Versus Euro, Varga Says

December 15, 2011

Dec. 15 (Bloomberg) -- Hungary’s government expects the forint to strengthen “sooner or later” against the euro, Mihaly Varga, Prime Minister Viktor Orban’s chief of staff, said today.

At the same time, the cabinet’s reworking of the budget on the basis of a lower economic growth forecast for next year provides an opportunity to recalculate the forint projection as well, Varga told Budapest-based TV2 in an interview.

The proposed merger of the central bank and the financial regulator may help to create a “stricter,” more efficient system, Varga added.

--Editor: Alan Purkiss

To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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