Ministry of Finance
News
Hungary’s GDP up by 4 percent in 2017
Ministry of Finance, March 6, 2018 12:55 PM
Hungary’s economy has switched into a higher gear in 2017. According to the latest report by the Hungarian Central Statistical Office (KSH), in Q4 2017 and in the year 2017 the economy grew by 4.4 percent and 4.0 percent, respectively, year-on-year.
Hungarian economy has proven pessimistic predictions wrong
Ministry of Finance, March 2, 2018 12:40 PM
Last year, Hungary’s GDP grew by 4.2 percent, the largest increase in 12 years. With this, the economy has disproved several gloomy market prognoses, among them those envisioned by credit rating institutions, Minister of State for the Utilization of EU Funds Balázs Rákossy said at a conference organized by business daily Világgazdaság.
Hungarian-Iranian relations in healthcare are growing stronger
Ministry of Finance, March 2, 2018 10:29 AM
Iran and Hungary have a long history of a mutually beneficial economic and financial partnership, Minister for National Economy Mihály Varga stated when he met with Iran’s Minister of Health and Medical Education Ghazizadeh Hashemi in Budapest.
Credit line of EUR 184 million provided for tertiary education development
Ministry of Finance, March 1, 2018 2:32 PM
The European Investment Bank (EIB) and the Council of Europe Development Bank are to grant preferential loans of EUR 184 million for Hungary to develop the campuses of the University of Pécs and the University of Physical Education, Minister of State for Financial Affairs Ágnes Hornung announced. The two credit lines of EUR 92 million each were signed, along with Ágnes Hornung, by European Investment Bank's Vice-President Vazil Hudák and Council of Europe Development Bank Vice Governor Carlo Monticelli earlier today.
Hungarian-Kazakh cooperation entered into a new phase
Ministry of Finance, February 28, 2018 2:24 PM
The strategic partnership between Hungary and Kazakhstan provides a great opportunity for discussing global economic challenges, Minister for National Economy Mihály Varga said at the latest session of the Hungarian-Kazakh Strategic Council in Budapest. “We must have an overview of strategic issues that concern cooperation between our countries and define future priorities,” he stressed.
The volume of investment totalled more than HUF 6 000bn (EUR 19.3bn) last year in Hungary
Ministry of Finance, February 28, 2018 11:49 AM
In 2017, the volume of investment has reached HUF 6440bn, the highest figure since 1995, the year when the Hungarian Central Statistical Office first compiled relevant data. This volume shows an increase of 16.7 percent compared to last year.
NGM may weigh plans to cut VAT
Ministry of Finance, February 28, 2018 8:34 AM
The Ministry for National Economy (NGM) is going to consider every proposal of a VAT cut; however, currently the impact of former reductions is being analysed, Minister for National Economy Mihály Varga told economic daily Világgazdaság. The Minister also noted that wage hikes were not causing structural problems and interest rates were still favourable for investment growth.
Dynamic job growth in the private sector
Ministry of Finance, February 27, 2018 1:07 PM
The recent expansion of the primary labour market has continued during the winter: the number of people working in a private sector job has increased by 87 thousand year-on-year, Minister for National Economy Mihály Varga said, commenting on the latest labour market data.
Volume of retail sales rising for four-and-a-half years
Ministry of Finance, February 23, 2018 1:00 PM
Rising wages have caused retail sales to gain 5 percent in 2017 and 6.1 percent in the period December 2016-December 2017. As result, retail sales have been on the rise for the 54th consecutive month. Job growth, favourable economic conditions and the six-year wage and tax agreement have also been among the positive factors seen behind the upward trend.
2017 was a year of booming housing market
Ministry of Finance, February 23, 2018 11:43 AM
In the year 2017, 38 thousand building permits have been issued, the highest figure in nine years, Minister for National Economy Mihály Varga was quoted as he was commenting on the latest housing data published by the Hungarian Central Statistical Office (KSH).