7 March 2024

The Magyar Nemzeti Bank (MNB) has published its ”Sustainable GDP - Global discussion paper“ at a ceremonial international book launch event. The main message of the book is that the economy needs a sustainability turnaround and new metrics to monitor this turnaround. GDP has been the most important economic indicator of the 20th century, but what is needed is a compass that reflects the state of and changes in environmental, social and financial sustainability along the traditional dimensions of economic development. The Magyar Nemzeti Bank joins the international effort to develop new indicators with the new ”Sustainable GDP - Global discussion paper“.

The book is based on the theses of Governor György Matolcsy, whose starting point is that in order to achieve the sustainability turnaround, we need to renew measurement as well as the theoretical approach. But there are no widely accepted measures of sustainability and sustainable development. The Magyar Nemzeti Bank’s new global discussion paper aims to help measure sustainable economic growth in a way similar to “New Sustainable Economics - Global discussion paper” which set down the conceptual foundations for the sustainability turnaround.