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Forint weaker than assumed in 2019 budget, to stabilise

Forint weaker than assumed in 2019 budget, to stabiliseBUDAPEST: The Hungarian forint is trading at weaker levels than assumed in the 2019 draft budget, Finance Minister Mihaly Varga said on Wednesday, adding however that he expected markets to stabilise.

He said Hungary ran stable public finances and the region’s economies were growing robustly, with Hungary projecting economic growth of 4.1 percent next year.

The forint traded at around 320 versus the euro on Wednesday. Varga did not specify the exchange rate assumed in the budget bill.

Copyright Reuters, 2018

Source: Brecorder

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