Ministry of Finance
News
International companies operating in Hungary tend to have long-term plans for the country
Ministry of Finance, November 6, 2017 11:27 AM
The Government is working to create a favourable business environment for innovative, profitable enterprises which are ready to expand, Minister for National Economy Mihály Varga said at the foundation stone laying ceremony for the logistics facility of Jabil Circuit Hungary Ltd, a project implemented by Infogroup Ltd, in the city of Tiszaújváros in North-eastern Hungary.
Residential property market boom continues
Ministry of Finance, November 3, 2017 10:44 AM
The Family Housing Allowance (CSOK) and reduced VAT in the construction sector have caused the residential property market to expand in a dynamic and steady manner in Hungary, and the latest data also reflect this positive trend, Minister for National Economy Mihály Varga said. The Minister’s comments came after the Hungarian Central Statistical Office had reported that in the third quarter of 2017 the number of building permits was up by 33 percent year-on-year, and the number of newly built homes soared by 52 percent in the same period.
Minister Varga: Hungary’s economy is set to grow stronger
Ministry of Finance, November 2, 2017 4:29 PM
The six-year wage agreement, tax cuts, Hungary’s industrial development programme, vocational education reform and measures initiated by the National Competitiveness Council are strategic pillars of Hungary’s economy policy, thanks to which Hungary’s long-term competitiveness may improve further. As a result of the mutually beneficial effect of these measures, the country may have a higher investment rate even without substantial FDI, and thus an economic environment can be created that ensures steady GDO growth in the future, Minister for National Economy Mihály Varga said earlier today at the Tatra Summit conference.
Conscientious job policies can also improve competitiveness
Ministry of Finance, November 2, 2017 4:08 PM
A responsible employment policy is indisputably a factor that can improve competitiveness; it can be a competitive advantage within the region and also within the EU, and it can substantially contribute to the steady expansion of enterprises, Minister for National Economy Mihály Varga said at the award ceremony of the “Responsible Employer of the Year” title in Budapest.
Employment data continued to improve in Hungary
Ministry of Finance, October 26, 2017 1:16 PM
Thanks to favourable economic trends and supportive Government measures, the number of people in employment has hit a new record high of 4 million 451 thousand, Minister for National Economy Mihály Varga said, commenting on data released by the Hungarian Central Statistical Office (KSH).
Retail sector continued to post impressive sales growth in August 2017
Ministry of Finance, October 24, 2017 1:19 PM
In August 2017, the volume of retail sales grew by 4.7 percent according to both unadjusted data and data adjusted for calendar effects. Thus, the sector’s upward trend has been unbroken for 50 months. In comparison to January 2010, the volume of retail sales has increased by more than 22 percent in Hungary.
More and more Hungarian enterprises are proving successful abroad, October 2017
Ministry of Finance, October 20, 2017 1:52 PM
The status of a country achieved in international competition depends on the country’s capability of and willingness for innovation and the adaptation of new solutions – that is, the capacity for rapid progress, Minister for National Economy Mihály Varga said at the ceremony for presenting the Awards for Successful Enterprises. National values, political stability and the country’s economic policy are nowadays all seen as positive competitiveness factors.
56-month upward real wage growth trend expected to continue
Ministry of Finance, October 19, 2017 3:15 PM
Thanks partly to the six-year wage agreement concluded last November, the positive real wage growth trend in place for more than four-and-a-half years has remained unbroken in Hungary. In the initial eight months of 2017, gross wages were up by some 44 percent compared to the same period of 2010, which figure shows the beneficial effect of, among other factors, Government measures.
Automotive industry a major driver of Hungary’s competitiveness
Ministry of Finance, October 18, 2017 1:53 PM
In the automotive sector, we have all it takes to be a leader. As the sector’s rapid changes require prompt adaptation, those who cannot keep up with the best in the competition are left behind, Minister Mihály Varga said at Automotive Hungary 2017, the 5th International Exhibition for Automotive Industry Suppliers.
The world’s largest factory for railway braking systems completed in Budapest
Ministry of Finance, October 18, 2017 11:20 AM
The German large enterprises operating in Hungary have traditionally been good partners when it came to realizing our economic development objectives, Minister of State for Economic Regulation István Lepsényi said at the inauguration of the new production and training facilities of Knorr-Bremse Rail Systems.