Hungary in no Rush to Join Euro Zone, Minister Says
Hungary is in no rush to join the euro zone and should adopt the single currency only if its economic output approaches the average of the euro area or Germany, Economy Minister Mihaly Varga was quoted as saying in an interview on Saturday, cited by Reuters.
“Like the Czechs or the Poles, we will not enter the waiting room for the euro, which is a requirement to fix the exchange rate two years before adoption (of the euro),” Varga was quoted as telling the daily Magyar Hirlap.
“This is a favorable position and it is up to us when we decide to take the next step,” Varga said, adding Hungary should also wait for the outcome of debates on deepening integration between members of the single currency bloc.
Hungary’s central bank has also said Hungary should not join the euro before its economy is sufficiently strong.
- » Business in the Euro Area with the Lowest Growth Since 2014
- » NSI: Household Income Grows By 7.3% in 2018
- » In February 2019, the Registered Unemployment Rate in Bulgaria Reached 6.2%
- » IMF Lifts Bulgaria's 2019 GDP Growth Forecast to 3.3%
- » Bulgarians Abroad have Sent Home More than BGN 4 Billion in 2018
- » Bitcoin Jumped to over $ 5,000