Foreign currency loans: balance struck to settle

In solving the problem of foreign currency borrowers, we managed to find a balance point where banks are not yet in danger, but the “heavy debt” of the banking system to its customers can be resolved, said Mihály Varga, Minister of National Economy on Thursday.

When settling foreign currency loans

When settling foreign currency loans

He emphasized that the HUF 1,000 billion that the banking sector sees as a “burden” when settling foreign currency loans is unfairly taken from customers. The ruling of the Mansion ruled that the banks had acted unfairly.
He said the government had negotiated with the Hungarian Banking Association how the repayment could be made the fastest.

Mihály Varga reminded us that the settlement law will come into force on November 1st, when it is time to start calculating how many clients will get the money back.

Asked whether there was a bank that was planning to leave Hungary

Asked whether there was a bank that was planning to leave Hungary

The minister said, “on the contrary, I read in the announcements that Hungary is still a bank paradise because every bank wants to stay here.”
In a report released Tuesday by the International Monetary Fund (IMF) to 2.8% for this year and 2.3% for 2015, Mihály Varga said the forecast was not surprising, as most analysts have upped their expectations. , however, the government expects growth in 2014 to be higher than the IMF forecast of about 3.1-3.2 percent.
Mihály Varga indicated that the government expects the Hungarian economy to remain strong in 2015, which could increase GDP by 2.5 percent.

The most important goal is to create more and more jobs

bank

He emphasized that although public employment would continue, in 2015 the government expects that the number of new jobs created on the market will exceed the number created by public employment.
He stressed that resolving the problems of foreign currency borrowers and the conversion of loans into forints would help to reduce the vulnerability of the Hungarian economy, and the government wants to continue reducing public debt next year.
He also stated that Hungarian bus production should be encouraged.

“I would like BKV to take into account the existence of Hungarian bus production from time to time,” said Mihály Varga, who believed that the transport company in recent years’ procurement did not take into account the existence of such Hungarian production capacity.