Ministry of Finance
News
Prices edged lower in May 2016
Ministry of Finance, June 8, 2016 11:29 AM
In May 2016, consumer prices were down on average by 0.2 percent year-on-year. In comparison to the same period of the previous year, the price of pork fell considerably, by some 20 percent, which proves that households have been the ultimate winners of a reduced VAT rate.
Parliament adopted the largest VAT reduction in ten years
Ministry of Finance, June 7, 2016 3:07 PM
Next year’s tax package leaves on average HUF 80-85 000 per year at families with two children, Minister for National Economy Mihály Varga said, after the Hungarian parliament adopted the tax package that accompanies the 2017 Budget.
Industrial output data in April signals positive U-turn
Ministry of Finance, June 7, 2016 1:39 PM
Industrial output data shows a positive trend reversal, Deputy State Secretary for Priority Corporate Relations Zoltán Marczinkó said, commenting on the latest statistics released by the Hungarian Central Statistical Office (KSH).
Government budget deficit at a steady low level
Ministry of Finance, June 7, 2016 10:48 AM
Thanks to the performance of the Hungarian economy and the Government’s economic policy, the central sub sector of the state budget accumulated a deficit of HUF 13.2bn at the end of May 2016. This has been the lowest fiscal deficit figure in more than one-and-a-half decades. This clearly shows that Hungarian reforms are working, and state finances have been stable and predictable.
Hungarian companies may join development projects in Egypt
Ministry of Finance, June 2, 2016 3:06 PM
The rapid and balanced development of Hungarian-Egyptian relations is in the best interest of both countries. By the end of 2014, Egypt became Hungary’s largest export market in the Arab world, Minister for National Economy Mihály Varga said at a business forum organized for Hungarian and Egyptian enterprises in Cairo. As member of the delegation headed by PM Viktor Orbán, Mihály Varga Minister held bilateral talks with Egypt’s Finance Minister Amr El-Garhy.
The number of people in employment must be increased
Ministry of Finance, June 1, 2016 3:28 PM
Similarly to the EU, the Hungarian Government is also aiming to achieve a 75 percent employment rate up to 2020, well above today’s figure of 68 percent, Minister of State for Labour Market and Vocational Education Péter Cseresnyés stated at a conference in Kecskemét.
Economic growth expected to gather steam in the second half of the year
Ministry of Finance, June 1, 2016 3:12 PM
With regard to Hungarian fiscal and inflationary processes in its latest report the OECD expresses an opinion similar to the Government’s. However, in terms of short-term growth prospects the standpoints of the international organization and the Government do differ, Minister of State for Financial Affairs Ágnes Hornung said, commenting on the latest country report of the OECD.
Employment growth hits new high
Ministry of Finance, May 26, 2016 11:33 AM
The number of people in employment has been nearing 4 million 300 thousand in Hungary, according to the latest job report of the Hungarian Central Statistical Office (KSH). In the period February-April 2016, the number of people aged 15-74 years in employment rose by 153 thousand year-on-year, to 4 million 294 thousand. This has been the highest figure in 26 years, and it is up by 585 thousand since 2010, when the term of the new government began.
Retail sales on the rise for 33 months in a row
Ministry of Finance, May 25, 2016 1:18 PM
In March 2016, the volume of retail sales grew by 5.5 percent year-on-year. Since 2010, retail sales have increased by 15.1 percent in Hungary, well above the average growth of the EU (6.5 percent), and it is also one of the best figures in the region.
Government wants economic growth to benefit every Hungarian
Ministry of Finance, May 24, 2016 1:49 PM
The Government aims to place the Hungarian economy on a growth path that can ensure dynamic growth without external resources, Minister for National Economy Mihály Varga said at the conference organized by business daily Világgazdaság on the future of Hungary.