Mediafax (Mediafax)
Currencies  |  October 02, 2010 11:33:46

Orban: The Hungarian forint will remain in the danger zone


Mediafax

BUDAPEST (MEDIAFAX) - The Hungarian forint is due to the high public debt subject to speculators and to its protection is needed to reduce debt as quickly as possible, said Hungarian Prime Minister Viktor Orban. Has reported on Saturday, Reuters, referring to Saturday's edition of the Magyar Nemzet.

According to Orban's now the forint exchange rate evolves differently than as provided by the Hungarian economic fundamentals.

"Forint exchange rates are detached from reality (forint) is exposed to speculators and the reason is that we are very indebted," Orban said in an interview for the newspaper.

"Therefore, if we want to protect the forint exchange rate, we must reduce the national debt as quickly as possible. And that's what we work on. I see some chance, but not very hard control budget deficit and national debt reduction will not yield immediate results," said Hungarian Prime Minister.

"The Hungarian currency will be in the danger zone for some time," he warned Orban

Forint, the course was in the last few months very volatile on Friday increased to four-month highs against the euro, which has caused optimistic expectations details of the planned budget for next year, the government has Orbánova publish the Sunday elections to local councils.

David Vandrovec, vandrovec@mediafax.cz

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Orbán: Maďarský forint zůstane v nebezpečné zóně

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