Hungary unlikely to head into outright recession

Hungary’s Finance Minister Mihaly Varga mantains his optimism: “Risks to global economic growth are unlikely to trigger an outright recession”, he said on Saturday, adding that the best way to tackle a slowdown was to maintain fiscal discipline and market stability. “Whenever there is a slowdown and we cannot speak of an acceleration of growth cycles, positions of balance always come to the fore,” Varga told a meeting of Hungarian economists. “We must avoid fiscal profligacy and maintain fiscal discipline and rigour,” Varga said. On Thursday, central bank Governor Gyorgy Matolcsy said risks to global growth, such as Brexit, the … Continue reading Hungary unlikely to head into outright recession