Ministry of Finance
News
European Commission has meaningfully upgraded Hungary’s growth forecast
Ministry of Finance, July 11, 2019 11:43 AM
The European Commission’s latest forecast shows that not even experts in Brussels can ignore any more that in the first quarter of this year the growth of the Hungarian economy not only did not slow down, but with an expansion of 5.3 per cent Hungary is number one in the EU rankings, László Balogh, Deputy State Secretary of the Ministry of Finance said on the public service television news channel M1.
Hungarian economy is performing above EU average, criticisms are political
Ministry of Finance, July 10, 2019 11:03 AM
There are unfounded claims in the EU’s recommendations regarding Hungary. It is regrettable that the European Union’s activities related to the management of the economy are watered down with politically debatable topics that are irrelevant to the subject in hand, Finance Minister Mihály Varga stated at the Brussels meeting of EU finance ministers (Ecofin).
Eurozone budget: Member States are divided by issue of funding
Ministry of Finance, July 9, 2019 12:21 PM
Consultations regarding the establishment of a Eurozone budgetary instrument are ongoing even after the EP elections as Member States have to date failed to reach an agreement on a number of material issues; issues which divide them the most, Finance Minister Mihály Varga said after the extended meeting of the finance ministers of the countries using the euro (Eurogroup). Hungary continues to insist that the new instrument cannot withdraw funds from non-Eurozone countries and cannot jeopardise the financing of other budgetary goals, the Hungarian minister added.
Deficit target can be reached against the background of a fall in sovereign debt
Ministry of Finance, July 8, 2019 8:26 PM
As a result of the government’s disciplined budgetary policy and favourable economic processes, state finances continue to remain characterised by stability and increasing revenues. In consequence, the deficit of the first six months amounted to HUF 390 billion which is 39.1 per cent of the planned deficit. The deficit target of 1.8 per cent to GDP for the whole of the year continues to remain realistic and achievable, while the sovereign debt indicator, too, will decrease further.
The Government wants to provide young people with an improving vision of the future
Ministry of Finance, July 3, 2019 9:31 AM
“The Government’s goal is for it to be increasingly worthwhile to live, work and raise a family in Hungary”, Minister of Finance Mihály Varga declared at the Fidelitas Summer University. “This is why next year’s budget simultaneously provides a framework for the Family Protection Action Plan and the Economy Protection Action Plan, and for the preservation of Hungary’s security”, the Minister emphasised.
The World Bank could also help Hungarian enterprises to appear on international markets
Ministry of Finance, July 3, 2019 9:12 AM
“Increasing the export capability of Hungarian small and medium-sized enterprises is one of the Hungarian Government’s strategic goals”, Minister of Finance Mihály Varga stressed at a meeting with the World Bank’s regional Executive Director Günther Schoenleitner.
Sales of the new Hungarian Government Bond Plus exceed 1000 billion forints
Ministry of Finance, July 3, 2019 9:08 AM
Sales of the new Hungarian Government Bond Plus sovereign bond have exceeded 1000 billion forints (EUR 3.1 billion), Minister of Finance Mihály Varga announced on his Facebook page.
Hungary’s unemployment rate falls to record low of 3.4 percent
Ministry of Finance, June 27, 2019 2:16 PM
“The rate of unemployment has fallen to 3.4 percent, the lowest level ever, from almost 12 percent in 2010, while there are currently 4.5 people in permanent employment in Hungary”, Minister of Finance Mihály Varga declared with relation to the latest data from the Central Statistical Office (KSH).
Nursery school development projects to begin in another twenty settlements
Ministry of Finance, June 26, 2019 2:59 PM
“Nursery school development projects are to begin in another twenty settlement out of some two billion forints (EUR 6.2 million) in budgetary funding within the framework of the Nursery School Development Programme”, Minister of Finance Mihály Varga announced.
Budget in line with prior expectations
Ministry of Finance, June 24, 2019 11:41 AM
Favourable economic trends experienced hitherto and expected for the future guarantee fiscal balance and stability. Including a deficit of HUF 137.4bn in the month of May, the central sub sector of the state budget closed the period January-May 2019 with a deficit of HUF 176.4bn, corresponding to 17.7 percent of the annual deficit target. The ESA full-year deficit target of 1.8 percent of GDP will be attainable.