Ministry of Finance
News
Retail sales up by 5.8 percent in August 2016
Ministry of Finance, October 25, 2016 10:37 AM
The volume of retail sales increased in August 2016 by 5.8 percent, double the average EU growth rate, compared to the same period of the previous year. Thus, the sector has been expanding for the 38th month in a row. In the initial eight months of the year, the volume of retail sales was up by 5 percent year-on-year. Analysts are expecting this upward trend to continue in the remainder of the year.
We can only build a successful country if we preserve the legacy of 1956
Ministry of Finance, October 24, 2016 1:27 PM
After the Soviet Union had invaded Hungary in 1956, Canada gave shelter to some 40 thousand Hungarians, and compared to the number of total population no other country has become the second home of so many persecuted Hungarians, Minister for National Economy Mihály Varga stressed at the Hungarian Canadian Cultural Centre of Toronto. Invited by Canada-based Hungarian organizations, the Minister has attended various events in Toronto.
Hungary has become a major motor vehicle manufacturing hub in Europe
Ministry of Finance, October 20, 2016 3:38 PM
Motor vehicle manufacturing is playing a key role within the Hungarian economy, and thanks to the performance of the more than 700 enterprises active in the sector the volume of output soared by more than 17 percent over the past one year, Minister for National Economy Mihály Varga said at a conference organized as part of Automotive Hungary, a car industry exhibition event.
Huawei to join development projects in Hungary
Ministry of Finance, October 20, 2016 2:13 PM
Minister for National Economy Mihály Varga met with Huawei Technologies Hungary Ltd CEO Zheng Weifeng to discuss new cooperation options. One of the most dynamically developing info-communication companies wants to join, among others, the implementation of an automotive test track project near Zalaegerszeg, the Minister said.
Wages in real terms gained more than 7 percent year-on-year in Hungary
Ministry of Finance, October 19, 2016 11:35 AM
In the first eight months of 2016, wages in real terms increased by 7.5 percent year-on-year, according to the flash report of the Hungarian Central Statistical Office (KSH), This shows that an upward wage trend has been in place for the 44th consecutive month. Within the private sector, the number of jobs soared by 65 thousand since August 2015.
Hungarian enterprises strike various deals with Kazakh partners in Astana
Ministry of Finance, October 18, 2016 2:58 PM
A bilateral strategic council was established, concrete business deals were concluded, energy-related issues were discussed and MoUs on tourism, healthcare and employment were signed in Kazakhstan during a three-day official visit of a Hungarian delegation led by Economy Minister Mihály Varga.
Effective and rapid action by Visegrad Four customs authorities to combat tax fraud in the region
Ministry of Finance, October 18, 2016 1:32 PM
Tax and customs authorities of the Visegrad Four may boost fiscal revenues and protect law-abiding enterprises through new measures against VAT fraud, such as threshold prices for Far Eastern products and risk profiling, Deputy Economy Minister and Minister of State for Taxation András Tállai told representatives of the respective authorities of six countries from the region.
Strategic council established to foster Hungarian-Kazakh economic relations
Ministry of Finance, October 18, 2016 11:32 AM
Parallel to the 5th session of the Kazakh-Hungarian Intergovernmental Commission on Economic Cooperation, a strategic council was established in order to strengthen bilateral economic relations, Minister for National Economy Mihály Varga said after the first meeting of the group.
National Competitiveness Council to ensure sustainable growth
Ministry of Finance, October 17, 2016 12:38 PM
The Government aims to keep Hungary’s economic growth at 3-4 percent of GDP, and this objective requires significant measures aimed at improving competitiveness, support SMEs, addressing labour market challenges and increasing wages, Minister for National Economy Mihály Varga said at the “TOP 200” gala evening organized by business weekly Figyelő.
Mihály Varga holds talks in Kazakhstan
Ministry of Finance, October 17, 2016 11:37 AM
In recent years, Hungary and Kazakhstan have had steady and versatile political, economic and cultural dialogues, Minister for National Economy Mihály Varga said, who participated at the 5th plenary session of the Kazakh-Hungarian Intergovernmental Commission on Economic Cooperation in Astana. In the Kazakh capital, the Minister met with Prime Minister Bakytzhan Sagintayev, Economy Minister Kuandyk Bishymbayev and Energy Minister Kanat Bozumbayev.