Economy

Is the forint too strong? Go on holiday in Hungary, FinMin recommends

June 6, 2019, 8:57 am  english version Hungarian version  
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Hungary’s Finance Minister Mihály Varga has made a clever/odd/cynical (make your pick) remark about the relationship between the EUR/HUF exchange rate and going abroad for your vacation. The point is that you don’t necessarily have to leave the country for your holiday.


In an interview with weekly Figyelő Varga was asked: "In view of the EUR/HUF 325 exchange rate, as Finance Minister what would you suggest your fellow Hungarians is the best time to buy foreign currency for their summer vacation abroad?"

Varga replied: "A summer vacation abroad is exciting, but it is no problem at all if our countrymen spend their summer break at home, if they rest and spend at home." The minister added: "There are so many beautiful and interesting landmarks in Hungary."

As regards the adoption of the euro, Varga showed greater optimism than the Governor of the central bank (MNB), as contrary to György Matolcsy he does not think Hungary needs decades before it can join the euro area.

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