Mihály Varga assessed Hungary’s economic position as stable, citing a current account surplus of EUR 2B.Continue reading
On Monday, the new Governor of the Hungarian National Bank (MNB / Magyar Nemzeti Bank), Mihály Varga, took the oath of office at the Sándor Palace. In accordance with the decision of President Tamás Sulyok, Mihály Varga will be the head of the central bank for the next six years as of Tuesday, as proposed by the Prime Minister.
Before receiving the appointment and signing the oath of office, the former Finance Minister swore an oath to the Constitution and to exercise his office for the benefit of the Hungarian nation.
“This afternoon I took the oath of office at the Sándor Palace,” Mihály Varga announced on Facebook on Monday.
Tomorrow I will officially start my work as President of the Hungarian National Bank. As an economist, I know of no nobler task than to serve the Hungarian economy and Hungary as governor of the central bank,”
he wrote.
The event was attended by Prime Minister Viktor Orbán, Speaker of the National Assembly László Kövér, Gergely Gulyás, the Minister responsible for the Prime Minister’s Office, and Fidesz parliamentary group leader Máté Kocsis.
There are many good economists working in Hungary. However, only a professional who has smelled gunpowder in a live situation should be the head of the Hungarian National Bank,”
Orbán wrote in a social media post.
“Mihály Varga is Hungary’s most experienced economic politician and economist. He will make an excellent president of the Hungarian National Bank,” he added, wishing him every success.
Orbán announced in November 2024, that he would nominate Mihály Varga, then Finance Minister, as central bank governor. Varga will replace the outgoing György Matolcsy, who headed the bank for 12 years.
Via MTI, Featured image: MTI/Bruzák Noémi