Ministry of Finance
News
Wages in real terms gained above 10 percent in 2017
Ministry of Finance, February 20, 2018 3:37 PM
Wages in real terms have been rising for five years; this means Hungarian families have a growing amount of money at their disposal. Thanks to double-digit real wage growth, people who earn their living from work have received extra income worth more than one month of wage last year in comparison to 2016. Taking into account family tax allowances, real wages have increased by 36 percent since 2010 -- twice the pace of growth observed in 2002-2010, under the Socialist-Liberal governments.
Migration cannot be the cure to labour market problems
Ministry of Finance, February 15, 2018 1:15 PM
Employment has improved markedly since 2010 in Hungary: the number of people with a job has grown by some 750 thousand and the unemployment rate has fallen by two-thirds, Minister for National Economy Mihály Varga has said a conference in Budapest.
Hungary’s economy switched into a higher gear
Ministry of Finance, February 14, 2018 1:51 PM
Stable and rapid economic growth shows that the economy policy based on wage hikes and tax cuts has been bearing fruits, and thus the standard of living of Hungarians has improved substantially, Minister for National Economy Mihály Varga said, commenting on the latest GDP flash report of 2017 released by the Hungarian Central Statistical Office (KSH).
Industrial output up by some 5 percent in 2017
Ministry of Finance, February 13, 2018 1:31 PM
The volume of industrial output rose by 4.8 percent last year in Hungary, and thus the sector’s output has risen by some 35 percent since January 2010. Thanks to the Government’s re-industrialization programme, the support of capacity-expansion projects and other projects enabled by a lower corporate income tax rate, output growth is expected to continue this year.
Open Budget Survey is based on subjective perceptions
Ministry of Finance, February 9, 2018 10:27 AM
The Open Budget Survey, which has a unique method for selecting the countries it evaluates, is a compilation of subjective perceptions, Minister of State for Public Finances Péter Benő Banai told public news channel M1, commenting on the survey’s conclusion placing Hungary as 57th on the fiscal transparency ranking of 115 countries.
Hungary to prepay Paks II loan
Ministry of Finance, February 9, 2018 10:26 AM
Hungary is pre-paying EUR 78.2 million, the amount the country has hitherto drawn from the credit line provided by Russia, Minister for National Economy Mihály Varga told business daily Világgazdaság. Maintaining the loan agreement in the long term, he said, was nonetheless necessary as it provided a safety net for the project.
Economic expansion to be accompanied by stable public finances in 2018
Ministry of Finance, February 8, 2018 1:21 PM
The Government has been committed to implementing the state budget in a predictable and prudent manner and providing a sound financial framework required for the implementation of social policy measures aiming to increase the well-being of Hungarians. Fiscal data from January 2018 reflect a robust economy and the prepayment of EU funds.
We are looking at the best examples to become the best examples
Ministry of Finance, February 5, 2018 3:04 PM
Hungary may get truly successful provided confidence prevails in more and more facets of daily life, Minister for National Economy Mihály Varga said at a conference on economic competitiveness, organized by the Ministry for National Economy (NGM). The conference focuses on the SME strategy which is being written jointly by the NGM and the Paris-based Organization for Economic Cooperation and Development (OECD), the Minister pointed out.
The unemployment rate has been declining for five and a half years in Hungary
Ministry of Finance, January 30, 2018 1:29 PM
As a result of the 66-month downward unemployment trend, the unemployment rate has hit a record low of 3.8 percent in the period October-December 2017. Accordingly, the number of jobless people has fallen by almost two-thirds, to some 175 thousand, over the past seven years. The number of people in employment has risen to 4 million 447 thousand, up by 738 thousand since the change of government in 2010.
Croatia to implement Hungary’s e-mobility promotion model
Ministry of Finance, January 29, 2018 3:12 PM
Hungary is ready to share experiences regarding e-mobility promotion measures, for example with regard to a supportive regulatory environment and e-bus fleets used in public transport, Minister for National Economy Mihály Varga said after he had received Deputy Prime Minister and Economy Minister Martina Dalić of Croatia in his office.