Mihály Varga explained that from the government's point of view, the essence of the model change is to give freer space to education and research, to provide adequate remuneration for quality work, and to take as much of the administrative burden off the shoulders of universities as possible.

The outstanding teaching and research work at Budapest's Corvinus University provides an excellent opportunity for the students here to acquire internationally recognized, marketable knowledge, said the Minister of Finance at the opening ceremony of the higher education institution on Sunday in Budapest.

According to Mihály Varga, in addition to their studies, university students and future economists are concerned with three questions: can they expect intellectually and professionally exciting challenges, will they have a job, will they be able to get a job, and will their earnings ensure an adequate living , will it be competitive with foreign payments.

The minister emphasized that the government is committed to creating valuable jobs, raising wages, and developing the economy, and is working to answer all three questions with a clear yes.

Mihály Varga stated that "we live in an age of challenges", when the previous principles regarding economic development are overturned and the power centers of the world are repositioned. And the question is: what needs to be done to make Hungary and the Hungarian people the winners of the 21st century. For all this, according to the Minister of Finance, "we have to manage the resources that are available, the talent of people, as efficiently as possible."

He added that Hungarian higher education must simultaneously adapt to the needs of the economy and the labor market, to research and development and innovation processes, and to the challenges of the future. The government gives serious help to this work, the goal is that "our universities fulfill their role: on the one hand, to be the cradle of new ideas, and on the other hand, to measure themselves at the forefront of the world in terms of the knowledge transferred."

Mihály Varga explained that from the government's point of view, the essence of the model change is to give freer space to education and research, to provide adequate remuneration for quality work, and to take as much of the administrative burden off the shoulders of universities as possible.

He pointed out that with the transformation, despite reports to the contrary, the financing of the universities will not become uncertain, on the contrary, it will be stronger.

Mihály Varga said that the government is also committed to raising the wages of those working in higher education: in 2017, the wages of 14,000 lecturers, researchers and teachers were raised, in connection with the model change, in two stages, in September 2021 and January 2022, you can expect another 15-15 percent wage increase.

The minister also reported that Hungary's economy developed in a balanced and fast pace at the outbreak of the epidemic, the public finances were in balance, and the public debt was permanently and continuously reduced. And when it was greatly needed due to the epidemic, they had adequate resources for health expenses and economic protection as well.

"It didn't happen like in 2008 that the energy suddenly ran out and we had to turn to the International Monetary Fund. Relying on our own strength, we protected jobs, provided help to businesses in difficult situations and did everything we could to restart them," said the minister.

At the same time, he emphasized, that is why the Hungarian public finances will remain on a supportive and encouraging path and will support the restart.

Zsolt Hernádi, the chairman of the Board of Trustees of the Maecenas Universitatis Corvini Foundation, said that the foundation was formed in such a way that the transformation of the university was started in such a way that it would become the training center for the newly emerging Hungarian elite.

Előd Takáts, the rector of the Corvinus University of Budapest, encouraged the students to fully participate in the life of the university: attend classes, participate in the life of the vocational college.

MTI

Photo: The three buildings of the Budapest Corvinus University behind the Szabadság bridge over the Danube on Fővám tér and Közraktár utca SOURCE: MTI/CSABA JÁSZAI