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Index – Economy – Mihaly Varga announced that they are discussing three serious topics with the world's financial leaders

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Everything is in order for the Budapest meeting of EU finance ministers and central bank governors held under Hungary's rotating presidency to be successful, Hungarian Finance Minister Mihaly Varga said at a news conference on Friday morning. file according to

According to the minister Finance ministries and central banks of all member states will be represented at the negotiations on Friday and Saturday in Budapest, “most of them at a high level,” and leaders and experts from several international financial organizations (such as the IMF, the OECD, the European Investment Bank, and Eurofinance) will also be in Budapest.

Asked if he was disappointed by that among the 27 member states, Press Releases It comes from only nine countries, the Finance Minister replied:

No, because each country decides its level of representation.

In addition, the exact number of countries represented at the highest levels will only be revealed at the luncheon of the Finance Minister and the Central Bank Governor, Mihaly Varga added.

They discuss three important topics.

Mihaly Varga explained that the discussions will revolve around the following three topics:

  • Financing the green transition, which was also highlighted in Draghi's report on Monday, will now be possible to discuss this for the first time at Member State level;
  • Supporting the poorest and most heavily indebted countries in managing their (financial) challenges;
  • The effects of the demographic situation in the European Union and the ageing of societies on the budget deficit and the path of public debt.

Regarding the green transformation, in response to a journalist's question, Mihály Varga also said that the green transformation is important for Hungary, and the country has set it as a financial target for 2050, But Hungary's experiences with joint debt are not favourable due to the recovery programme. At the same time, regarding the idea of ​​new joint EU borrowing, he pointed out that Many other countries are also reluctant to take up joint borrowing again.

As I mentioned earlier, Mario Draghi, the former president of the European Central Bank, presented his report on the competitiveness of the European Union economy on September 9. At the press conference for the report, Draghi spoke about how Europe needs radical change if it does not want to fall behind the United States and China, which currently dominate the global economy. You can read more about the report in this article.