Orban: Perilous times ahead for economy, reserves needed

Perilous times are ahead for the global economy, which cannot simply resume where it left off before the pandemic, Prime Minister Viktor Orban said on Tuesday. Reserves are therefore a basic requirement, he told a press conference held together with Gyorgy Matolcsy, the governor of the National Bank of Hungary (NBH), in Budapest. After viewing gold reserves held by the central bank, Orban said money's value was underpinned by gold, the central bank and the government. He thanked Matolcsy for ensuring that the central bank guaranteed the country's "reserves and security".