Hungarian PM nominates Varga as national bank governor

Budapest(The Uttam Hindu): Hungarian Prime Minister Viktor Orban has nominated Finance Minister Mihaly Varga as the next governor of the National Bank of Hungary (MNB).

The announcement was made during Orban's regular Friday morning interview on public radio Kossuth, Xinhua news agency reported.

The proposal has been submitted to parliament for approval.

"We will be working within a new economic governance framework starting January 1," Orban said, adding that he would elaborate on the framework in December.

Varga confirmed his acceptance of the nomination in a Facebook post, calling it an honour. "I will continue to serve the stability and prosperity of Hungary with my future work," he wrote.

Varga has held several senior positions, including finance minister since 2018 and economy minister prior to that.

The nomination comes as Gyorgy Matolcsy's tenure as MNB governor, which began in 2013, approaches its end.