International Recognition Received for Effective Debt Management

Finance Minister Mihály Varga announced on his social media page that Hungary has won the International Financing Review‘s (IFR) 2023 emerging markets award, and stressed that the country’s economy will be kept on a growth path in 2024.

Hungary’s  dollar bond, issued on January 4, 2023, has won the IFR’s 2023 Emerging EMEA Bond Award, the Minister posted on his social media page on Tuesday.

The London-based organization annually honors the most outstanding capital market transactions and players worldwide. The IFR underlined that the USD 4.25 billion long-term bond issue in January last year provided predictable funding and increased the security of Hungary’s financing.

This year we will keep the economy on a growth path, reduce the budget deficit and public debt,”

Mihály Varga added.

The Finance Minister most recently said at an economic policy conference that until the inflation rate returns to a “more moderate range,” fiscal expenditures will be restrained. While there is consensus that this year’s inflation rate will be significantly lower than last year’s, he welcomed the result of bringing inflation down from 25.7% in January to 5.5% in December. He expects an even better figure for this year January. He believes that “moderate and disciplined policy is key,” and the government’s aim is to maintain an average annual inflation rate of around 5%.

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Via MTI, Featured image: Pixabay

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