Ministry of Finance
News
Employment record-high in Hungary
Ministry of Finance, August 30, 2017 11:11 AM
The pay rise and tax reduction agreement concluded with employers and workers last November is a success, and in consequence, employment has further increased and unemployment has decreased, Minister of National Economy Mihály Varga said in response to the latest employment data released by the Central Statistical Office.
Central Europe’s largest tomato processing plant opens in Kecskemét
Ministry of Finance, August 24, 2017 1:41 PM
“Our flagship industries also include the Hungarian food industry, and accordingly it is particularly important to increase performance within this field”, Minister for National Economy Mihály Varga said at the official inauguration of Univer product Zrt’s new tomato processing plant in Kecskemét.
The background for budget stability is provided by the performance of the economy
Ministry of Finance, August 23, 2017 12:09 PM
“The fundamental background for budget stability is provided by the performance of the Hungarian economy, thanks to which public finances closed July with a surplus of 94.4 billion forints”, the Ministry of National Economy’s Minister of State for Public Finances Péter Benő Banai said on M1 Hungarian television’s Monday evening current affairs program.
Brussels could soon decide on differing quality labelling
Ministry of Finance, August 22, 2017 2:58 PM
“The Ministry of Agriculture would like to set things straight with regard to product labelling and the trademark market as part of the Government’s twenty-point action plan aimed at improving food quality and increasing consumer awareness”, the Ministry’s Minister of State for Food Chain Supervision Róbert Zsigó said in a statement for Hungarian daily Magyar Idők.
Ten percent increase in real wages in first half of 2017
Ministry of Finance, August 22, 2017 1:42 PM
“Growth for the first half of the year is in line with the Government’s intentions, in view of the fact that we are convinced that the long-term growth of the Hungarian economy cannot be founded on cheap labour”, Minister for National Economy Mihály Varga said in a statement.
Hungarian enterprises may have much to gain from participating in the Astana Expo
Ministry of Finance, August 18, 2017 4:05 PM
The Astana Expo is a major economic event this year, which offers a great opportunity alsor Hungary to present achievements of Hungarian enterprises related to future energies, Minister Mihály Varga said at the opening of the Hungary Day at the Astana Expo. As the Minister noted, the Hungarian pavilion has enjoyed special attention in the past two months, and the number of visitors at the Hungarian exhibition has now reached almost 200 thousand.
Economic growth in line with prior estimate
Ministry of Finance, August 17, 2017 1:46 PM
Following robust growth in the first three months of the year, the Hungarian economy grew by 3.2 percent in the second quarter. This figure is in line with prior expectations: this period saw the highest growth last year; therefore this quarter’s increase may appear modest and lower than it was in the previous quarter. In the second half of 2017, the Ministry for National Economy expects growth to pick up, driven by the accelerated payments of EU funding, the Housing Subsidy Programme, the six-year wage agreement and tax reductions.
Massive budget surplus in July 2017
Ministry of Finance, August 7, 2017 1:34 PM
Fiscal data reflect the success of the Government’s economic policy: in the month of July 2017 the state budget posted a surplus of HUF 94.4bn, thanks mainly to higher-than-expected tax revenues. The six-year wage agreement concluded last year has proven to be an adequate scheme: the state budget has remained stable despite lower tax rates.
Number of MFB info points to increase further
Ministry of Finance, August 4, 2017 11:58 AM
Lending is gaining more and more importance as the pace of economic growth is accelerating, Minister for National Economy Mihály Varga said at the opening of an MFB info point at an OTP Bank branch in the third district of Budapest. The Minister, who is MP from constituencies in the 2nd and 3rd districts of Budapest, noted that MFB info points had been designed to make the allocation of EU funds cheaper, faster and more efficient, and as such they were one of a kind in the EU.
Despite tax reductions tax revenues are up
Ministry of Finance, August 3, 2017 3:53 PM
Last year, the Government has brokered the six-year wage agreement aiming to end the era of low wages in Hungary, Minister of State for Taxation András Tállai told political daily Magyar Idők. This year, wages have risen rapidly, more and more people have a steady job, and budget revenues have increased, he added. In the first six months of the year, revenues were up by HUF 140bn compared to the same period of the previous year.