Ministry of Finance
News
Excellent Hungarian industrial output growth data for March 2015
Ministry of Finance, May 7, 2015 4:09 PM
As in the 28 member states of the European Union average industrial output growth did not reach even 2 percent in the observed period, in the month of February 2015, the more than 11 percent growth in Hungary far exceeded the level in Europe, Minister of State for Economic Regulation Béla Glattfelder said at the inauguration of an enlarged production facility of Bourns Ltd in Ajka.
Amendment on bank tax to be submitted to Parliament next week
Ministry of Finance, May 7, 2015 2:54 PM
In accordance with the Memorandum of Understanding concluded with the EBRD, the amendment proposing the lowering of bank tax in Hungary is scheduled to be submitted to Parliament next week, as the Cabinet has reached a common stance, Minister of State for Taxation and Financial Affairs Gábor Orbán said at a conference organized by Portfolio.hu in Budapest.
Minister Varga at SwissCham Hungary
Ministry of Finance, May 6, 2015 11:03 AM
Hungary’s economic outlook for 2015 has improved substantially: the economy is expected to grow this year by more than 3 percent and as a consequence the Government has revised its growth prognosis for the current year from 2.5 percent to 3.1 percent, Minister for National Economy Mihály Varga stated at the general meeting of SwissCham Hungary.
European Commission more upbeat on Hungary’s economic outlook
Ministry of Finance, May 5, 2015 4:39 PM
In the European Commission’s Spring 2015 Economic Forecast, Hungary’s economic outlook has been revised upward. Still, the effects of measures presented in the Convergence Programme, such as next year’s tax reductions that are expected to stimulate consumption, could not be factored into the report. Besides that, the Commission’s macro-economic and fiscal projections are basically in line with the expectations of the Government of Hungary.
Five CEE countries propose common strategy against VAT fraud
Ministry of Finance, May 5, 2015 10:51 AM
Five countries from Central and Eastern Europe are urging joint action, such as the extension of the reverse-charge VAT mechanism, Minister for National Economy Mihály Varga told MTI in a telephone interview from Vienna, where the Czech, Slovak, Austrian and Bulgarian finance ministers held a conference on combating VAT fraud.
Balance of trade surplus gains again in February 2015
Ministry of Finance, May 4, 2015 5:33 PM
In the second month of the year, the volume of Hungary’s foreign trade continued to rise: the volume of both exports and imports gained some 9 percent. Thanks to improving performance, the country’s foreign trade surplus was up by EUR 41 million higher year-on-year, to EUR 850 million. In light of trends at the beginning of the year, trade volume growth has become sounder, as – besides the vehicle manufacturing sector – the export volume of pharmaceuticals is also expected to be a key factor.
Hungarian unemployment rate below EU average for two years
Ministry of Finance, May 4, 2015 11:09 AM
According to the latest, seasonally adjusted data compiled by Eurostat, in March 2015, the unemployment rate averaged 11,3 percent within the eurozone (19 member states), 9.8 percent within the EU (28 member states), while it was only 7.4 percent in Hungary.
Hungary’s 2015 National Reform Programme submitted to Brussels
Ministry of Finance, May 4, 2015 10:33 AM
Along with the Convergence Programme, the Government also sent the 2015 National Reform Programme to the European Commission. This document outlines major Government measures that have been implemented in order to meet the growth and employment objectives of the Europe2020 strategy and comply with the country-specific recommendations of the previous year.
The Government has submitted Hungary’s Convergence Programme
Ministry of Finance, May 1, 2015 12:09 PM
Hungary’s Convergence Programme for the period between 2015-2018 is based on the targets of keeping the deficit of the budget low, reducing the sovereign debt, and making inflation predictable.
The Government has raised this year’s GDP projection to 3.1 per cent
Ministry of Finance, May 1, 2015 12:06 PM
The Government has raised this year’s economic growth projection from 2.5 per cent to date to 3.1 per cent, Péter Benő Banai, State Secretary for Budgetary Affairs of the Ministry for National Economy announced in a Thursday afternoon programme of the television channel M1.