Ministry of Finance
News
Volume of industrial output up by 6.3 percent y/y in February 2016
Ministry of Finance, April 13, 2016 11:45 AM
Following a temporary slow-down in January, the output volume of the industrial sector rose by 6.3 percent year-on-year, and thus the sector posted output growth of altogether 3 percent in the initial two months of this year. Among major industrial sectors, the largest sub sector – manufacturing – posted output growth of 7.5 percent in February, compared to the corresponding period of the previous year. In light of favourable car industry demand on foreign markets and the volume of orders, the Ministry for National Economy is expecting further expansion in the sector for the remainder of the year.
DUIHK investment climate survey shows stronger real economy and improving business confidence in Hungary
Ministry of Finance, April 12, 2016 4:36 PM
The fact that foreign companies operating in Hungary have given the most optimistic responses in years to questions concerning their business plans, the investment environment and the Hungary’s economic outlook for 2016 confirms the adequacy of Government measures, Minister of State for Economic Development and Regulation István Lepsényi said at an event of the German-Hungarian Chamber of Industry and Trade (DUIHK), as the organization published the 22nd investment climate survey, based on the responses of the Chamber’s member companies and foreign investors on inquiries about Hungary’s economic situation and business environment. The paper shows the best balance of positive and negative opinions since 2005.
Double-digit growth in tourism sector indicators
Ministry of Finance, April 11, 2016 3:01 PM
In the second month of the year, the volume of tourism traffic grew by 12 percent in comparison to the already high base of the previous year. After the fluctuation in the number of arrivals at the end of last year, it is an especially promising sign that the number of arrivals soared in case of each of Hungary’s top ten source countries, including Germany, and Russian guests have also come in larger numbers.
The economy requires a stable Hungarian banking sector and economic growth requires lending recovery
Ministry of Finance, April 11, 2016 11:25 AM
A strong domestic financial sector can -- through lending -- significantly contribute to the improvement of economic competitiveness as well as to investment and employment growth, Minister for National Economy Mihály Varga said at the staff meeting of the Hungarian Banking Association.
Lower consumer prices in the month of March
Ministry of Finance, April 8, 2016 11:14 AM
In March 2016, inflation fell by -0.2 percent year-on-year in Hungary. This was mainly due to low oil prices and disinflationary effect from Europe, but it was also attributable to the reduction of VAT on pork.
Hungary’s budget registers the lowest first quarter deficit in fifteen years
Ministry of Finance, April 7, 2016 11:27 AM
Thanks to Hungarian reforms and a prudent fiscal policy, the accumulated deficit of the central sub sector of the state budget was HUF 125.8bn at the end of March 2016. In the same period one year ago, the deficit was much higher, at HUF 536.7bn. The difference between the balance at the end of March 2016 and 2015 was the consequence of higher tax revenues and lower expenditures this year.
Hungary fully reimbursed European Commission loan
Ministry of Finance, April 6, 2016 11:18 AM
On 6 April 2016, the European Commission credited the last instalment, EUR 1.5bn, of the loan facility that the former Hungarian government had received from the IMF and the European Commission in 2008 and 2009, Minister for National Economy Mihály Varga announced. With this step, he added, the Government has reached its goal of creating economic policy independence also in terms of state financing.
Mihály Varga received Hong Kong’s Legislative Council President Jasper Tsang Yok-sing
Ministry of Finance, April 6, 2016 10:42 AM
It has been the result of common efforts by the two governments that Hungarian-Chinese relations in general and Hungarian-Hong-Kong relations in particular have recently seen significant improvement, Minister for National Economy Mihály Varga said, following talks with Hong Kong’s Legislative Council President Jasper Tsang Yok-sing in Budapest.
The state is the most reliable financial partner for everybody
Ministry of Finance, April 5, 2016 1:28 PM
Sales data of government securities point to great popularity and that is a sign of the trust of households and enterprises in future outlook and the performance of the Hungarian economy, Minister for National Economy Mihály Varga said in Makó, a town in the south-east of Hungary, where he opened the 77th sales point of the Hungarian State Treasury.
Successful enterprises, successful economy
Ministry of Finance, April 1, 2016 2:04 PM
It has been mainly attributable to profitable and increasingly successful domestic enterprises that future perspectives are favourable for both Hungary and the Hungarian economy, Minister for National Economy Mihály Varga said at the presentation ceremony of the Awards for Successful Enterprises in Budapest. The Minister handed over awards for six companies in three categories.