MNB claims to have averted over hundred-billion forint loss and cuts costs sharply

Addressing parliament on the 2025 MNB report, Governor Varga Mihály highlighted that the bank’s recent safeguards averted a loss of more than a hundred billion forints. He reported that the overall deficit shrank by 234.7 billion forints relative to the prior year and that actual expenditures were about 14.9 billion forints below the original plan. Cost reductions were achieved by ending the use of the Balatonakarattya conference centre, saving close to 2 billion forints, and by terminating the lease of the Bölcs Vár venue, saving 1.2 billion forints.

The central bank also restructured its foundation activities and relocated a large contemporary art collection to regional museums. Foreign-exchange and gold reserves grew, reaching 64 billion euros during the summer, while the euro’s exchange rate fell from 416 to 380 forints and is projected near 365 in 2026. Varga concluded that these steps enhance transparency and fiscal discipline.