National Bank of Hungary - Annual Report 2004

The National Bank of Hungary has published its Annual Report for the year ended 2004. Hungary's accession to the European Union opened up new possibilities which can benefit the country in its efforts to catch up with the more developed European economies, the report says.

"As a result of Hungary's accession, the Magyar Nemzeti Bank became a member of the European System of Central Banks (ESCB). The MNB's Governor participates in the quarterly meetings of the General Council of the European

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