Hungary's strong fundamentals warrant stable forint

The recent weakening of the Hungarian forint versus the euro is not justified by the country's strong economic fundamentals, which warrant a stable exchange rate, Economy Ministry State Secretary Gabor Orban said on Tuesday. Orban told Reuters on the sidelines of a Euromoney conference in Vienna that Hungary's growth was strong and its vulnerability had decreased significantly.
"Economic trends did not justify the forint weakening we saw towards the end of last year," Orban said, adding that neither the extent nor the pace of the forint's recent easing was a cause for concern at this stage. He said the Hungarian economy ministry would send Hungarian legislation on the conversion of forex mortgages and fair banking to Croatia and Poland.