March 19, 2020 / 7:02 PM / 13 days ago

Hungary can expect very slow economic recovery from virus hit -minister

BUDAPEST, March 19 (Reuters) - Hungary’s finance minister said on Thursday that the economy will recover from the blow it suffered from the coronavirus pandemic only very slowly and the ship has sailed for the economy this year.

Finance Minister Mihaly Varga told private television channel ATV that his ministry would submit a new 2020 budget proposal to the government within a few weeks, with resources targeted for helping the economy recover.

When asked about the forint’s slide to new record lows past 359 to the euro on Thursday, Varga reiterated the government had no exchange rate target. (Reporting by Krisztina Than)

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