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Matolcsy to Create Unortodox Economic School

admin 2014.08.29.

Central Bank governor György Matolcsy in an interview for vs.hu revealed that they are to invest EUR 638 million (200 billion HUF) into creating an economic school, teaching unortodox and unconventional economic methods and ideas. The amount of money is more than the annual government backing of higher education.

György Matolcsy emphasized, economic and financial education needs change, and for it there is a need for a new institution, with educators and curriculum embodying its new spirit. The success of Hungary relies on reforming education, and the foundation of the Central Bank will help to strengthen education.

The governor of the Central Bank stated, the fund does not come from taxpayers money, it is from the profit of the bank. For questions regarding further real estate purchases, Matolcsy revealed that the board authorized a budget of EUR 285 million (90 billion HUF) to acquire properties.

Matolcsy also spoke about the 24 month easing cycle of base rate, which profited EUR 888 million (280 billion HUF) for the Central Bank, saved another several hundred million on the business sector, and state bonds yielded another EUR 910 million (300 billion HUF).

via vs.hu, photo AP/SITA


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