Ministry of Finance
News
52-month positive retail sales trend persists in Hungary
Ministry of Finance, December 19, 2017 11:34 AM
In October 2017, the volume of retail sales in Hungary grew by 6.3 percent year-on-year. This has been the 52th month of rising sales in a row. Since January 2010, the sector posted sales growth of 24.4 percent, while compared to the beginning of 2014 sales have increased by 21.3 percent.
Construction sector once again posted nearly record-high output growth
Ministry of Finance, December 15, 2017 1:01 PM
In October 2016, construction sector output was up by 38.1 percent year-on-year, which figure is almost as high as the growth rate of 38.3 percent in May, Minister for National Economy Mihály Varga said, commenting on the latest data released by the Hungarian Central Statistical Office (KSH).
Production of world-class buses to start in Debrecen
Ministry of Finance, December 15, 2017 11:24 AM
Motor vehicle manufacturing is a sector of priority which has expanded dynamically in recent years and contributed significantly to the country’s overall economic, export and job growth, Minister for National Economy Mihály Varga said at the presentation of a new bus prototype by ITK Holding Zrt and EvoBus in Debrecen.
Tax revenues up by HUF 547bn compared to last year
Ministry of Finance, December 15, 2017 10:12 AM
Tax revenues received by Hungary’s Treasury increased by HUF 547bn year-on-year despite the fact that tax reductions had left some HUF 860bn at families and enterprises this year, Minister of State for Parliamentary Affairs and Taxation András Tállai said at an executive meeting of Hungary’s Tax and Customs Administration (NAV). As the Minister of State pointed out, the online system for filing returns for personal income tax (“e-PIT”) has made a successful debut this year and by 2021 the majority of tax returns of PIT are expected to be prepared by NAV.
Industrial sector output up by some 40 percent since 2010, October 2017
Ministry of Finance, December 13, 2017 1:43 PM
In October 2017, the volume of industrial output grew by 7.6 percent year-on-year, while in the period January-October 2017 output increased by 5.4 percent. Since January 2010 and the beginning of 2014, the sector’s output gained 37 percent and 20.3 percent, respectively, in Hungary. The latter figure places Hungary as first in terms of industrial output growth within the region, and it is well above the 7.9 percent average increase in the European Union.
Landlords to save more than HUF 3bn in 2018
Ministry of Finance, December 12, 2017 11:34 AM
Next year, property owners will benefit from lower red tape and substantially lower tax liabilities. Those who let their property for the long term will have to pay only personal income tax of 15 percent, while those who let it for short periods (e.g. through Airbnb) may opt for a highly favourable flat-rate tax when they rent out up to three properties.
Fiscal processes and public finances remained predictable
Ministry of Finance, December 8, 2017 11:15 AM
The state budget continues to pre-finance EU-funded projects and facilitate the realization of the Government’s economic policy objectives. This has led to a deficit of HUF 1639bn in the general government budget at the end of November 2017. The ESA deficit target of 2.4 percent of GDP, however, will be attained this year.
The significance of vehicle manufacturing within the Hungarian economy is expected to increase
Ministry of Finance, December 7, 2017 9:30 AM
“The significance of vehicle manufacturing within the Hungarian economy is expected to not only remain stable, but also to improve”, the Ministry for National Economy’s Minister of State for Economic Development and Regulation István Lepsényi said in Budapest at a forum on the automotive industry, part of a series of “In Focus” conferences organised by the HG Media Group.
Economic growth is picking up in Hungary
Ministry of Finance, December 5, 2017 2:42 PM
According to the latest report of the Hungarian Central Statistical Office (KSH), in Q3 2017 Hungary’s GDP grew by 3.9 percent year-on-year. Data adjusted for seasonal and calendar effects show an increase of 4.1 percent. With the exception of the agricultural sector, on which bad weather had taken a toll, every economic sector has contributed to higher output.
MoU on health industry cooperation signed with Iran
Ministry of Finance, December 4, 2017 2:29 PM
Improving relations between Hungary and Iran, among them the health industry partnership we have started, are expected to open up great opportunities for Hungarian enterprises, Minister Mihály Varga said after having met with Minister of Health S.H. Zadeh Hashemi in Tehran. The Minister had arrived in Iran for a two-day official visit on Saturday with a delegation of twenty businesspeople and several high-ranking officials of state institutions.