Ministry of Finance
News
The EBRD continues to be Hungary’s reliable partner
Ministry of Finance, May 10, 2017 3:45 PM
Hungary and the EBRD will continue to cooperate in an active manner, Minister for National Economy Mihály Varga said, on the sidelines of the Annual Meeting and Business Forum of the European Bank for Reconstruction and Development (EBRD) held in Nicosia, Cyprus, where the Minister also met with EBRD President Sir Suma Chakrabarti.
Hungary stands up for the rights of Hungarian enterprises operating in Austria
Ministry of Finance, May 9, 2017 11:19 AM
This year’s amendment of Austria’s regulations on wage and social dumping has been one of the main topics on the agenda discussed by Minister for National Economy Mihály Varga and Finance Minister Hans Jörg Schelling in Budapest.
Public financial management remained predictable and stable
Ministry of Finance, May 8, 2017 11:00 AM
Thanks to Government measures, the favourable trend in public finances have continued: the central sub sector closed the month of April with a surplus of HUF 76.6bn, thus the sector’s accumulated deficit totalled HUF 121.5bn in the period January-April 2017.
Our economic objectives are the same as Germany’s
Ministry of Finance, May 5, 2017 11:49 AM
German enterprises operating in Hungary, which have steadily expanded production capacity in the country, substantially contributed to the achievements of the Hungarian economy in recent years, Minister for National Economy Mihály Varga said at the annual general meeting of the German-Hungarian Chamber of Industry and Commerce (DUIHK). The Minister stressed that feedback by German enterprises was having a great weight in Hungary’s economic policy.
Hungary is narrowing the economic gap with peers
Ministry of Finance, May 4, 2017 1:46 PM
The Hungarian economy is set to expand at an annual rate exceeding 4 percent of GDP, which also means that the rate of domestic GDP growth will be above that of the EU’s average – Hungary’s Convergence Programme for 2017-2021 states. The document outlining key macro-economic trends predicted in the next four years has been sent to the European Commission by the Government on Tuesday. Similarly to the routine of previous years, the elaboration of the Programme was conducted concurrently to the drafting of the budget bill.
Housing boom continued at the beginning of 2017
Ministry of Finance, May 4, 2017 1:20 PM
Driven partly by the Government’s Housing Programme, the sector’s performance has been remarkable in Q1 2017, in the wake of the positive housing market trend reversal seen in 2016. In the period January-March 2017, the number of building permits issued rose by 89 percent year-on-year, the latest data published by the Hungarian Central Statistical Office (KSH) reveals.
Government to submit tax package that eases the overall tax burden by HUF 35bn
Ministry of Finance, May 3, 2017 10:52 AM
The Government is to submit the “spring-time” tax package to the parliament today. The Government continues to cut taxes, and amendments are seen to leave HUF 35bn more at families and enterprises. Besides the reduction of VAT, those who let out their homes and university students in the small taxpayer category may expect further significant easing of red tape and lower liabilities. The bill will make both the short- and long-term letting of residential properties easier. Provided the National Assembly approves the proposal, owners of rented homes will as of next year see substantially lower administrative burdens and higher tax savings, earning some HUF 3bn more.
Each sector to receive higher allocations in the 2018 Budget than they did this year
Ministry of Finance, April 28, 2017 11:49 AM
As the Minister for National Economy pointed out, in the drafting of the 2018 Budget they were aiming to earmark more funding for each sector than in 2017. In an interview for political daily Magyar Idők, Mihály Varga also said that upcoming parliamentary elections would not influence the drafting of the budget.
Number of private sector jobs rose by 121 thousand in one year
Ministry of Finance, April 28, 2017 10:54 AM
The number of people employed in the private sector increased year-on-year by 121 thousand in Hungary, as data from Q1 2017 show. Compared to the first quarter of 2010, the number of people in employment soared by 690 thousand, with the bulk of growth registered in the private sector (with an increase of 475 thousand). The unemployment rate is also at a favourable level, 4.5 percent.
With a common stance for the interest of V4 countries
Ministry of Finance, April 27, 2017 2:54 PM
Hungary is determined to take action against any effort by the Commission to narrow the spheres of competence of member states with all the tools at its disposal, Minister for National Economy Mihály Varga said in Warsaw, at the sidelines of a meeting of the labour and social affairs ministers of the Visegrad Four. The standpoint of the V4 continues to be to support the fight against the misuse of regulations and measures aimed at their enforcement, but these countries refuse to accept the planned amendment of the posting directive and deny unfounded accusations of “social dumping”.