Budapest, 15 April 2025 – The Magyar Nemzeti Bank and the Hungarian Chamber of Commerce and Industry have concluded a six-point agreement to promote sustainable economic growth, according to Mihály Varga after signing a cooperation agreement with Elek Nagy, president of the Hungarian Chamber of Commerce and Industry. The MNB Governor emphasised that in the future the two institutions would also support the development of the Hungarian economy by jointly analysing economic processes. With this agreement, the central bank’s theoretical knowledge and the Chamber of Commerce’s expertise in the field could be put to practical use.
Governor Varga explained that, according to the agreement, the export activities and growth of businesses would be monitored, with particular attention to price developments and labour market trends, and joint research projects would be used to facilitate economic policy decisions. Within the framework of the cooperation, small and medium-sized enterprises with strong growth potential would be identified and joint platforms established with domestic financial institutions, knowledge centres and universities, in order to leverage growth opportunities. The two institutions would also assist each other in preparing business climate surveys. The MNB would support the Chamber with its theoretical knowledge, while the Chamber would assist the central bank in reaching companies. The central bank and the chamber also agreed to share the results of their surveys with each other for analysis and research purposes. Varga pointed out that the Magyar Nemzeti Bank’s statutory task was to ensure macro-level financial stability, while the Hungarian Chamber of Commerce and Industry was required to maintain ongoing contact with businesses that shape the real economy, and thus the cooperation between the two organisations fit in well with their core activities.