After a hearing of the candidate in Parliament, Prime Minister Viktor Orbán intends to recommend the reappointment of György Matolcsy as Governor of the National Bank of Hungary to President of the Republic János Áder.

The Prime Minister wrote to Speaker of the House László Kövér, informing him about his recommendation, and requesting that he arrange for a hearing of György Matolcsy before Parliament’s Economic Committee.

Mr. Matolcsy’s current six-year mandate as central bank governor will expire on 3 March 2019.

According to the Act on the National Bank of Hungary, it is the Prime Minister who recommends a prospective governor to the President of the Republic. The mandate of the central bank governor is for a term of six years. A person can hold the office of Governor of the National Bank of Hungary for a maximum of two terms.

Fundamental Law states that the central bank governor is to be appointed by the President of the Republic.

(Cabinet Office of the Prime Minister/MTI)