"We do not understand that given the current working of the public healthcare system, we cannot achieve a demographic turnaround, György Matolcsy, Governor of the National Bank of Hungary (MNB) said in an brief summary on the success of politics and economic policy in Hungary in recent years, published on Növekedés.hu. Matolcsy also covered why the country used to be unsuccessful earlier in his view.
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In a break with current public discourse, the central bank chief also talks about areas that are not successful and require further measures.
We understood a lot of things after 2010, but not everything that is required for successfully closing the gap,
Matolcsy wrote on convergence. "We comprehend the world of money, we evaluate the forint, we reduce sovereign debt, we provide ample liquidity for the economy, we do not force the issue of joining the euro area, we do not welcome outside advice on austerity, and we maintain a predictable financial environment," the head of the MNB added.
In his view, however, we understand the new challenges of technology to a smaller degree. "We do not yet understand that without a turnaround in competitiveness, import capital landing in Hungary can only operate as an island because it has nothing to attach to," he stated.
We also do not understand that without top universities ranked among the top 200 globally, new technology will not be able to sustain convergence, according to Matolcsy, who then closes by stating that reversing demographic trends will not be possible under the current healthcare system.