BUDAPEST: The National Bank of Hungary expects the level of foreign currency reserves to fall by 10 billion euros to about 22 billion by the end of 2017, central bank Director Mihaly Hoffmann said on Thursday.
But he said the flagged decline would not damage the adequacy of foreign currency reserves as Hungary's short-term external debt was also expected to decline in the coming years.
"On first glimpse, this decline could seem frightening," he told an analyst briefing.
"But the good news is that our short-term external debt, which is already relatively low, is expected to decline in the next two years. Therefore, the adequacy of our foreign currency reserves is ensured on a forward-looking basis."
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