Ministry of Finance
News
EU finance ministers discuss anti-VAT fraud measures
Ministry of Finance, January 30, 2017 1:09 PM
A proposal by the European Commission on reverse-charge VAT was one of the topics on the ECOFIN’s agenda in Brussels, where Hungary was represented by Minister for National Economy Mihály Varga and Minister of State for Financial Affairs Ágnes Hornung. Invited by Minister Varga, the finance ministers of countries outside the Euro-zone convened at a working dinner to discuss, among others, the reduction of VAT on Internet services.
2017 expected to be a year of robust growth
Ministry of Finance, January 26, 2017 2:27 PM
Changes in the global economy do not necessitate a modification of the Government’s economic policy, Minister for National Economy Mihály Varga said at an economic conference organized by HG Media in Budapest. Using Hungary’s political and economic stability as a stepping stone, we must utilize the opportunities we have spotted or created, the Minister noted at the event, where participants discussed the outlook of the Hungarian and global economy.
Volume of retail sales rising for three years and a half
Ministry of Finance, January 25, 2017 1:37 PM
In November 2016 and in the period January-November 2016, the volume of retail sales rose by 4.5 percent and 4.7 percent year-on-year, respectively, and thus a positive sales trend has been in place for 41 months in a row. Household consumption growth is expected to pick up in coming years, fuelled by modest inflation and the Government’s pro-family measures.
Upward real wage trend in place for four years in Hungary
Ministry of Finance, January 20, 2017 11:36 AM
Repeated wage increases have also contributed to the outstanding, 7.5 percent, increase of wages in real terms in the initial eleven months of 2016 in Hungary. Thus, real wages have been on the rise for 47 consecutive months. Since November 2015, the number of private sector jobs has increased impressively, by 55 thousand, at enterprises with at least five employees.
Hungary aiming to become the region’s leader in digitalization
Ministry of Finance, January 18, 2017 3:09 PM
Hungary aims to become the regional centre of digital technology development, Minister for National Economy Mihály Varga said in Shenzhen, visiting telecoms giant Huawei and Build Your Dreams (BYD), a leading manufacturer of electric vehicles and accumulators.
Hungary regarded as reliable business partner also in Asia
Ministry of Finance, January 17, 2017 2:48 PM
Hungary has been Hong Kong’s number one trade partner in the CEE region, and the existing mutual confidence may be further improved by Hungary’s participation in the “One Belt, One Road” initiative, Minister for National Economy Mihály Varga said after having met with Hong Kong government members and economic stakeholders on the sidelines of the 10th Asian Financial Forum.
Even more Asian investors may choose Hungary as investment destination
Ministry of Finance, January 16, 2017 1:49 PM
As Hong Kong is a gate to Asia, Hungary is a gate to Europe, Minister for National Economy Mihály Varga said in Hong Kong, at the 10th Asian Financial Forum. We, Hungarians, he added, are proud that our innovative solutions and recent achievements have made us the equal partner of developed countries all over the world.
Government programme to result in development projects of more than HUF 60bn by large enterprises
Ministry of Finance, January 16, 2017 1:48 PM
One of the main priorities of our economic policy is to fuel economic growth, as thus increase the standard of living, Minister for National Economy Mihály Varga said at a press conference on Friday.
Inflation was low in 2016
Ministry of Finance, January 13, 2017 10:45 AM
Hungary has in recent years been characterized by subdued inflation. For 2016, data by the Hungarian Central Statistical Office show that the rate of inflation was 0.4 percent, in line with the Government’s estimate published in the Convergence Programme of April 2016.
The year was closed with stable public finances
Ministry of Finance, January 6, 2017 1:42 PM
Thanks to the Government’s tax reductions and a successful fiscal policy, the deficit of the general government budget was low in 2016 and the government debt-GDP ratio could also be substantially reduced, Minister for National Economy Mihály Varga said at a press conference. Speaking of headline figures, Mihály Varga said that the central sub sector of the state budget accumulated a preliminary deficit of HUF 848.3bn, down by HUF 389bn compared to the year 2015.