Ministry of Finance
News
Economic efficiency and productivity must be increased
Ministry of Finance, October 14, 2016 11:54 AM
After having achieved what we did it is no longer our first objective to attract investment in every possible field, as providing proper work skills and increasing productivity are gaining more and more importance since the country is nearing full employment, Minister for National Economy Mihály Varga said at the gala evening organized to mark the 30th anniversary of the Joint Venture Association.
City of Kaposvár to receive funding of HUF 6.6bn
Ministry of Finance, October 14, 2016 11:18 AM
The strategic cabinet of the Government decided to earmark HUF 6.6bn of development funds to finance three major projects in the city of Kaposvár, Minister of State for the Utilization of EU Funds Balázs Rákossy said yesterday.
Industrial sector posted double-digit growth in August 2016
Ministry of Finance, October 12, 2016 2:27 PM
Following a temporary dip, in the month of August 2016 the volume of industrial output grew by 11.1 percent year-on-year, and thus total output growth in the initial eight months of the year was 2.3 percent in Hungary. Since January 2010 and the beginning of 2014 output rose by 29 percent and 13.1 percent, respectively.
Our international partners are upbeat on Hungary’s economic outlook
Ministry of Finance, October 10, 2016 3:58 PM
On the sidelines of the annual IMF-World Bank meeting, Minister for National Economy Mihály Varga held talks with leaders of several international financial institutions, members of the USA-Hungary Business Council and representatives of investor groups.
Hungary is an equal partner of the IMF
Ministry of Finance, October 10, 2016 3:14 PM
Hungary has been a member and an equal partner of the International Monetary Fund, Minister for National Economy Mihály Varga said, following the annual joint session of the IMF and the World Bank in Washington.
Full-year fiscal deficit target revised lower to 1.7 percent of GDP
Ministry of Finance, October 10, 2016 11:33 AM
Thanks to the Government’s prudent fiscal policy, the accumulated deficit of the central sub sector of the state budget fell to a record low level of HUF 2.4bn. This figure has been unprecedented for some fifteen years. In light of favourable fiscal data compiled recently, the full-year ESA deficit is set to be better than formerly anticipated; therefore the Government has modified its fiscal target from 2 percent to 1.7 percent of GDP.
Autumn EDP report beats expectations
Ministry of Finance, September 30, 2016 1:31 PM
The two major indicators of Hungary’s public finances have turned out to be much more favourable than they had been predicted by the previous so-called EDP report in spring 2016: the deficit of the central government budget is 1.6 percent of GDP and the government debt-to-GDP ratio is 74.7 percent. The latest data also show dynamic economic growth: full-year GDP growth was revised upward to 4 percent in 2014 and 3.1 percent in 2015.
Unemployment rate at a historic low in Hungary
Ministry of Finance, September 27, 2016 10:53 AM
Hungary’s unemployment rate has hit a level unseen since the regime change of 1989, and the number of economically active people has concurrently reached a historic high, Minister for National Economy Mihály Varga said, commenting on the latest labour data compiled and published by the Hungarian Central Statistical Office (KSH).
Taxation policy a major contributor to good economic results
Ministry of Finance, September 22, 2016 2:48 PM
We have a new tax authority that has become capable of assisting the expansion of the Hungarian economy though its own tools, Minister for National Economy Mihály Varga said at the first National Tax Consultation conference, organized by the National Tax and Customs Administration (NAV) and the largest tax consultancy firms in Budapest.
Every major economic indicator shows improvement
Ministry of Finance, September 22, 2016 2:47 PM
Not only the level of government debt and fiscal processes have changed favourably, but every major indicator that describes the status of a country’s economy, Minister of State for Public Finances Péter Benő Banai told public news channel M1.