Magyar Nemzeti Bank 2025 business report presented to Hungarian Parliament

During a plenary session of the Hungarian Parliament, Central Bank Governor Mihály Varga presented the 2025 business report for the Magyar Nemzeti Bank (MNB). The report, spanning 1,201 pages, highlights measures taken since Varga assumed office in February 2025 to increase transparency and address corruption allegations involving foundations established under his predecessor, György Matolcsy.

Varga noted that the central bank has increased its gold reserves and reduced operating costs through staff reductions and the narrowing of consulting and communication contracts. Members of the Economic and Energy Committee and representatives from the Ministry of Finance expressed support for the report, citing the bank's role in maintaining monetary stability despite international economic turbulence.

Meanwhile, former central bank governor György Matolcsy has begun releasing long-form monologues on YouTube to respond to criticisms regarding his tenure. This follows reports from the State Audit Office identifying significant mismanagement and loss of public funds within MNB-linked foundations during his leadership. Matolcsy's recent public statements appear to address ongoing investigations into these financial irregularities.