The National Bank of Hungary published remarks by Governor Mihály Varga at the “Innovation that Unites” conference, linking productivity, efficiency and competitiveness to both economic development and lower inflation risks, and framing innovation as supportive of the central bank’s primary objective of price stability. He also pointed to shifts in global economic power centres and advances in artificial intelligence as drivers reshaping the labour force and creating new opportunities for innovation, arguing that the central bank should pay attention to Hungarian firms that can act as innovation “flagships” alongside its financial stability focus. Varga cited data suggesting that a small group of companies accounted for 13 percent of gross exports and 23 percent of GDP growth in the 2010s, with labour productivity at innovation-driven companies rising 44 percent compared to other firms. For the 2020s, he referenced the identification of more than 500 innovative companies accounting for nearly 10 percent of Hungary’s exports. Separately, the National Bank of Hungary joined other founding members in creating the Coalition for Innovation, which introduced the “Hungarian Innovator” trademark under the protection of the Hungarian Chamber of Commerce and Industry, initially awarded to 70 innovative Hungarian companies with total turnover of more than HUF 600 billion in 2024.
National Bank of Hungary 2026-02-11
National Bank of Hungary helps launch Coalition for Innovation and Hungarian Innovator trademark for 70 companies
Governor Mihály Varga of the National Bank of Hungary emphasized innovation's role in boosting productivity, efficiency, and competitiveness, linking it to economic development and price stability. He noted global economic shifts and artificial intelligence's impact on the labor force and innovation. The bank joined the Coalition for Innovation, launching the "Hungarian Innovator" trademark, recognizing 70 companies with a turnover exceeding HUF 600 billion in 2024.