Varga: No Hurry To Adopt Euro
- 5 Aug 2016 9:00 AM
Mihály Varga, the economy minister, said Hungary is in no hurry to adopt the euro and will not join the ERM-II system next year. In an interview to Figyelő he said adopting the euro in 2020 would be hasty from the economy’s point of view, adding that competitiveness must be improved first.
He also said it was important for the euro zone to strengthen.
Meanwhile, Varga said an annual economic growth rate of 1.5-2% was likely in the second quarter as against 0.9% in the first quarter.
This year’s GDP growth forecast of 2.5% will not be revised for the moment, he added. Varga also said in the interview that the restructuring of the tax authority NAV is yet to be completed and the organisation can be further streamlined.
He confirmed that a new official will be appointed to the position of deputy state secretary for the reorganisation of the tax office on August 15.
Republished with permission of Hungary Matters, MTI’s daily newsletter.
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