Ministry of Finance
News
The crisis caused by the epidemic has overwritten previous economic outlooks
Ministry of Finance, May 5, 2020 2:35 PM
“The primary goal of Hungarian economic policy is to protect the economic results achieved so far, and to regain the momentum of economic growth”, it states in the Convergence Programme submitted to the European Commission by the Ministry of Finance. The document calculates with 3 percent economic recession and a target budget deficit of 3.8 percent for this year, with economic performance possibly increasing to 4.8 percent next year.
The tax concessions being provided to the tourism sector are helping enterprises and families alike
Ministry of Finance, May 5, 2020 12:12 PM
The tourism sector, which is most vulnerable to the coronavirus epidemic, is being aided by several immediate measures.
Suspension of credit debt repayments offers relief to both members of public and businesses
Ministry of Finance, May 4, 2020 1:36 PM
The suspension of credit debt repayments will offer relief to both members of the public and businesses, the Minister of State for Finances at the Ministry of Finance stressed at the Friday online press conference of the Operational Group responsible for the containment of the coronavirus epidemic.
Reinvested profit could become fully exempt from corporation tax
Ministry of Finance, April 30, 2020 8:52 AM
The government has submitted another proposal aimed at mitigating the effects of the coronavirus epidemic, thereby facilitating the protection of workplaces and the economy.
The credit agreement relating to the Belgrade-Budapest railway line has been signed
Ministry of Finance, April 28, 2020 10:59 AM
“A secure credit agreement that is favourable for Hungary has been concluded between Hungary and China with relation to the development of the Budapest-Belgrade railway line”, Minister of Finance Mihaly Varga said in a statement to Hungarian news agency MTI on Friday after signing the credit agreement required for the commencement of the investment project.
Hungary successfully issues Euro bond
Ministry of Finance, April 24, 2020 9:58 AM
“Hungary has issued a total of 2 billion euros in 6- and 12-month maturity government securities with favourable interest and attracting a high level of investor interest”, Minister of Finance Mihály Varga announced. The Minister highlighted that the successful transaction confirms that investors continue to have faith in Hungary and are confident with relation to the rebooting of the Hungarian economy. The collateral for the increased financing requirements caused by the coronavirus epidemic has been assured.
Preserving jobs and rebooting the economy is the priority goal
Ministry of Finance, April 21, 2020 10:08 AM
“The government must strive to maintain fiscal discipline even during the coronavirus epidemic, but we must not doggedly insist on keeping the budget deficit under three percent, because preserving jobs and rebooting the economy must now be given priority”, Minister of Finance Mihály Varga said on Kossuth Radio’s “Sunday Paper” show.
The government has decided on the introduction of further tax concessions
Ministry of Finance, April 17, 2020 10:34 AM
“The government has decided on the introduction of further tax concessions that will leave 200 billion forints (EUR 570 million) in the pockets of enterprises and families”, Minister of Finance Mihály Varga announced on Thursday in a video posted to his Facebook page.
The effective handling of the crisis also requires the support of countries from outside the eurozone
Ministry of Finance, April 17, 2020 9:56 AM
The crisis management instruments proposed by the European Commission were discussed at the latest videoconference meeting of EU finance ministers, Minister of Finance Mihály Varga told the press following the meeting.
The banking sector is contributing to protection with a one-time tax
Ministry of Finance, April 9, 2020 5:56 PM
“A one-time tax is being levied on the banking industry equating to a rate of 0.19 of the tax base exceeding 50 billion forints (EUR 139.3 million); the revenue flowing into the budget as a result will be 55 billion forints (EUR 153.2 million), which will have to be paid in three instalments”, Minister of Finance Mihály Varga announced at a press conference in Budapest on Thursday.