András Simor: "Next week's election can bring a very significant change in Hungary" 24.hu

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24.hu

Published on May 29, 2024
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According to the former central bank governor, there may be a result in the June election that could shake the government, the question is whether the disaffected will find a suitable alternative among the parties. András Simor does not feel that he has enough strength in the government to be the master of the situation. Contrary to many experts, he does not expect that the government will announce austerity after the election, as he explained in Della, the budget has not been considered a tool for economic management, but has been used for political purposes by the Orbáns. We also discussed what the European Football Championship, starting in mid-June, has to do with the submission of the 2025 budget to parliament, which was postponed until the end of the year. Spoiler: according to government information, there is a connection. The former governor of the central bank stated in relation to the topic that today Hungary does not have a realistic, real, and achievable budget. In agreement with the current management of the Magyar Nemzeti Bank, he does not have a good opinion of the government's latest competitiveness strategy, in his opinion, it does not reveal the means by which the goals can be achieved. As an example: while the goal is to integrate small and medium-sized enterprises deeper into the suppliers of the multis, at the same time the government encourages and supports investments from the East that do not move the structure of the economy in this direction. Remaining at his previous job at the national bank, according to András Simor, we have reached the point where our interest rate advantage compared to the interest rates offered by the world's major central banks can no longer be narrowed, except by the weakening of the forint exchange rate. As for the gallop experienced by the Hungarian currency in recent weeks, he explains it with the external environment. Based on these, he assumes that the strengthening of the forint will stifle. Our guest also introduced us to the mysterious world where the MNB informs investors about financial matters to the exclusion of the public. He told me what the biggest mistake a central banker could make at such a time was, and who was the central bank governor who made it. We also talked about the conflict that most influences global politics and the economy - which also became an important campaign topic in the EU elections - the Russian-Ukrainian war, what the most likely outcome is, and whether there is a satisfactory end to the crisis for everyone. Where is the truth, with Orbán or with Brussels? Subscribe and don't miss our other videos 👉 https://bit.ly/2HWKkJo Read our latest stories 👉 https://24.hu/ Follow us on Facebook 👉 / 24ponthu Follow us on Instagram 👉 / 24ponthu Follow us on TikTok 👉 / 24ponthu Find out about the most important news of the past 24 hours and read our best articles collected weekly 👉 https://24.hu/hirlevel-feliratkozas/ Download the 24.hu app: for Android 📲 https://play.google.com/store/ apps/de... for iOS 📲 https://apps.apple.com/hu/app/24-hu-f... 24.hu is one of the most read news sites in Hungary. Our mission is independent, fact-based information and quality entertainment. The point is to ask, to show, to be there to help, to make you think, to entertain, and if necessary, to expose you. You understand: because of the readers, the viewers, the listeners. Become a 24.hu supporter too 👉 https://24.hu/tamogatas/ #24ponthu #della #podcast #simorandras #mnb #magyarnemzetibank #jegybank #bakafzoltán #24hu

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