The related expenditure comes from the bank’s profits and the taxpayers will not pay a single forint, he added.

“Failed neoliberal doctrines” will not be in the curricula, he said.

Asked whether the National Bank of Hungary planned to buy more real estate, such as the recently acquired Eiffel Palace office building in central Budapest and a staff retreat in the countryside, Matolcsy said the central bank’s board had allocated 90 billion forints for the purchase and renovation of buildings.

The bank’s property portfolio would certainly not grow to its earlier size of 22 properties but new real estate is good investments and would improve the bank’s balance sheet, he said.

Source www.hungarymatters.hu

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