Ministry of Finance
News
Central government budget deficit on an improving path
Ministry of Finance, February 5, 2015 4:00 PM
The balance of the central government budget in the first month of 2015 was in line with prior Government estimates. The deficit of the central sub sector of the state budget was HUF 53.8bn in January 2015.
In focus: combating money laundering and the financing of terrorism
Ministry of Finance, February 5, 2015 2:03 PM
Regulation related to the combating of money laundering and the financing of terrorism has been a Hungarian financial policy priority for more than 15 years. One of the key factors of an efficient anti-money laundering policy is the up-to-date knowledge of experts at participating authorities and financial services providers.
Linamar’s HUF 5bn investment project presented in Orosháza, South-Eastern Hungary
Ministry of Finance, February 3, 2015 1:47 PM
In Orosháza, at the opening ceremony for presenting the expanded production facility and new machinery of Linamar Hungary Ltd, a subsidiary of the Canada-based Linamar Corporation, Minister for National Economy Mihály Varga announced that the investment project will create 150 new jobs.
Law on conversion of forex loans and fair banks enters into force
Ministry of Finance, February 3, 2015 11:10 AM
As of 1 February, the law on the conversion of forex loans into forint-denominated instruments enters into force. The provision fixes conversion rates at CHF/HUF 256.47, EUR/HUF 308.97 and JPY/HUF 2163. The law on fair banks defines stricter conditions for unilateral changes in interest rates, charges and fees.
Forex loans set to disappear from Hungary’s financial system
Ministry of Finance, February 2, 2015 2:44 PM
As of the beginning of February, forex home loans -- or other types of foreign currency loans -- will be converted into forint loans and thus the problems caused by these financial products will also vanish from the Hungarian financial system, Minister for National Economy Mihály Varga said at a press conference on Saturday.
IMF delegation acknowledges achievements of the Hungarian economy
Ministry of Finance, February 2, 2015 11:10 AM
The delegation of the International Monetary Fund (IMF) – as part of an annual regular procedure – had conducted negotiations on 21-30 January 2014 and finally prepared a Concluding Statement.
Hungary’s volume of foreign trade higher again in November 2014
Ministry of Finance, February 2, 2015 10:48 AM
In the initial eleven months of 2014, the volume of exports and imports soared by 6.7 percent and 8.2 percent, respectively, in comparison to the corresponding period of the previous year. In November 2014, Hungary’s foreign trade showed a surplus of EUR 843 million, and thus in the initial eleven months of 2014 a surplus of EUR 6.2bn was accumulated. The Ministry for National Economy reckons with further growth in 2015.
Kazakhstan and Hungary both wish to deepen economic relations
Ministry of Finance, January 30, 2015 2:29 PM
Minister for National Economy Mihály Varga initiated the establishment of a joint tourism working group today, at the 4th Kazakh-Hungarian Business Forum held in Budapest. At the event, organized by the Hungarian-Kazakh section of the Hungarian Chamber of Commerce and Industry and its Kazakh partner, participants – including 40 enterprises – discussed partnership options to facilitate further cooperation.
Hungarian unemployment rate steady around 7 percent
Ministry of Finance, January 30, 2015 2:19 PM
According to seasonally adjusted Eurostat data, unemployment rate in Hungary fell to 7.3 percent in November 2014. Following Estonia and Spain, the largest year-on-year drop in the unemployment rate was recorded in Hungary within the EU28. With regard to year-on-year improvements, Hungary has been on the top of the ranking since February 2014. Unemployment rate averaged 11.5 percent in the 18 member states of the Eurozone, while it was 10.0 percent on average within the entire EU (28 members).
Retail sector expansion continued in November 2014
Ministry of Finance, January 29, 2015 10:49 AM
In November 2014 and in the initial eleven months of last year the retail sector grew by 5.1 percent year-on-year. Accordingly, the volume of retail sales in Hungary has been on the rise for the 17th consecutive month.