National Bank of Hungary Governor Mihály Varga emphasized economic balance and stability as foundations for sustainable development amid geopolitical and global economic volatility. Speaking at the Kisalföldi Prestige Award ceremony, he highlighted cooperation between businesses, scientific institutions and local communities as a prerequisite for economic development.
Varga pointed to Győr-Moson-Sopron County, which generates 5% of Hungary’s gross domestic product, as an example of how local cooperation and innovation support economic performance. He also recalled that the central bank’s new leadership had concluded a cooperation agreement with the Hungarian Chamber of Commerce and Industry as one of its first measures. The agreement covers joint research and surveys, as well as sharing their findings.