Ministry of Finance
News
Mihály Varga discussed options for deepening Hungarian-Azeri economic cooperation in Baku
Ministry of Finance, March 7, 2016 3:29 PM
It is in Hungary’s best interest to develop economic, trade and energy sector cooperation with Azerbaijan, and we have especially high expectations concerning the expansion of partnership in the field of pharmaceutical and health industries, Minister for National Economy Mihály Varga said, who – as a member of the delegation headed by Prime Minister Viktor Orbán -- met with Azerbaijan’s Minister of Economy and Industry Shahin Mustafayev in Baku.
Hungary’s credit rating expected to be upgraded this year
Ministry of Finance, March 7, 2016 11:54 AM
Hungary’s economic achievements warrant an upgrade in 2016.
Falling state debt, low fiscal deficit, subdued inflation and economic growth figures all confirm that Hungarian reforms are working. In accordance with the MoU concluded with EBRD, the rate of bank tax has been reduced.
Tourism sector’s GDP share exceeds 10 percent in Hungary
Ministry of Finance, March 3, 2016 3:03 PM
The pace of the expansion of the Hungarian tourism sector is outstanding even from an international perspective; thanks to the exemplary cooperation of enterprises, professional organizations and the Government, Minister of National Economy Mihály Varga said at the 39th Travel Exhibition in Budapest.
Minister Varga unveils Irinyi Plan, a major re-industrialization blueprint
Ministry of Finance, March 2, 2016 1:22 PM
This strategy aims to generate the driving force required for long-term economic growth, Minister of National Economy Mihály Varga told a press conference organized to present the new programme. Under the Plan, Hungary is to become one of the EU countries with the most highly developed industrial sectors by 2020.
Supporting domestic enterprises improves the competitiveness of the Hungarian economy
Ministry of Finance, February 29, 2016 4:18 PM
Through the new investment promotion programme the Government aims to give additional impetus to successful, large domestic enterprises, Minister for National Economy Mihály Varga said as he announced a project for expanding production capacity at PEMÜ Plc, a manufacturer of special plastics products. The Minister voiced his opinion that steady investment growth is one of the most significant achievements of the Hungarian economy.
Hungary among the EU countries most effective in reducing state debt
Ministry of Finance, February 29, 2016 2:46 PM
The policy of reducing state debt is essential for bolstering economic growth, continuing job creation and the improvement of families’ positions, Minister for National Economy Mihály Varga said at a conference on state debt, organized by Hungarian think-tank Századvég in Budapest. Since 2010, Hungary has achieved the largest reduction of state debt, 8.2 percent, and we are the only country with an intact downward trend concerning the general government debt-to-GDP ratio.
OECD published „Going for Growth” study
Ministry of Finance, February 29, 2016 12:48 PM
In the latest issue of “Going for Growth”, presented by the OECD on 26 February in Shanghai, the organization provides an overview of economic policy reforms of member countries and certain selected countries. The report highlights the 1 percentage point reduction of the personal income tax and the reorganization of vocational education in Hungary as major pro-growth measures.
Labour market posted further gains in Hungary
Ministry of Finance, February 29, 2016 11:35 AM
According to the latest report of the Hungarian Central Statistical Office (KSH), the number of people in employment has been above 4 million for the 22nd consecutive month in Hungary. In the period November 2015-January 2016, the number of people aged 15-74 years in employment grew by 113 thousand, to 4 million 240 thousand.
Hungary has been a reliable partner of South Korean companies
Ministry of Finance, February 29, 2016 11:04 AM
Korean investors will continue to be major stakeholders of the Hungarian economy, Minister of National Economy Mihály Varga said in Seoul, following a meeting with leaders of South Korean enterprises.
European Commission recognises merits of Hungarian economy
Ministry of Finance, February 27, 2016 10:10 AM
Compared with its former assessments, the European Commission offers a much more balanced evaluation of the state of the Hungarian economy and the Hungarian reforms in its report published today. The Commission perceives a number of changes in a positive light, and lays particular emphasis on the improvement of the general state of the economy.