Ministry of Finance
News
Economic agreements between Hungary and South Korea signed in Seoul
Ministry of Finance, February 25, 2016 2:50 PM
South Korea has been one of Hungary’s most important business partners in Asia, Minister for National Economy Mihály Varga said, following the second plenary session of the Hungarian-Korean Joint Economic Committee in Seoul.
Health industry agreement signed by SOTE and the Samsung Medison of South Korea
Ministry of Finance, February 25, 2016 11:38 AM
Hungary may in the near future become the health industry hub of the Central and Eastern European region, Minister for National Economy Mihály Varga said in Seoul, following the signing of a contract by Hungary’s Semmelweis Medical University (SOTE) and Samsung Medison of South Korea. The Budapest-based tertiary education institution and the South Korean manufacturer of modern diagnostic ultrasound systems concluded an agreement on establishing an education centre in Hungary.
Retail sector posts highest sales volume growth in ten years
Ministry of Finance, February 24, 2016 1:06 PM
In 2015, the volume of retail sales grew by 5.6 percent year-on-year, the highest figure since 2004.
Direct flight to be launched between Seoul and Budapest
Ministry of Finance, February 24, 2016 11:37 AM
A direct flight between Seoul and Budapest may play a key role in bolstering economic and tourism ties, Minister for National Economy Mihály Varga said after he had held talks with the president of Air Korea.
Wages in 2015 grew above 4 percent in real terms
Ministry of Finance, February 19, 2016 11:19 AM
According to the flash report of the Hungarian Central Statistical Office (KSH) released this morning, wages in real terms were up by 4.3 percent last year. This has been the third consecutive year of rising real wages in Hungary. In comparison to December 2014, the number of employees at enterprises with at least five employees rose by 59 thousand. This signals steady private sector job growth in Hungary.
Japan Credit Rating Agency upgraded outlook on Hungary from stable to positive
Ministry of Finance, February 19, 2016 10:28 AM
The Japan Credit Rating Agency (JCRA) has kept Hungary in investment-grade category and it raised the country’s outlook from stable to positive.
Hungary’s progress is remarkable even from an international perspective
Ministry of Finance, February 18, 2016 1:59 PM
Hungary’s economic situation and the change in state debt is favourable even when compared to other European countries, Minister of State for Public Finances Péter Benő Banai told public news channel M1.
General government debt-to-GDP ratio lower than expected
Ministry of Finance, February 17, 2016 12:07 PM
According to preliminary data compiled by the National Bank of Hungary, at the end of 2015 Hungary’s state debt-to-GDP ratio was 75.5 percent, below prior estimates. Final GDP data at current prices will be published by the Hungarian Central Statistical Office (KSH) in March 2016, and thus a precise debt figure will be revealed by the KSH at the beginning of April 2016, in the EDP report for the Eurostat.
Hungary’s vulnerability external shocks to saw the largest decline
Ministry of Finance, February 17, 2016 10:44 AM
In the regular annual concluding statement of Article IV consultation, the International Monetary Fund reports that Hungary’s financial vulnerability has declined substantially. The analysts of Morgan Stanley have come to the same conclusion: according to a study published yesterday, since 2008 Hungary has improved the most in terms of the bank’s Vulnerability Scoring Indicator.
Industrial out growth on a sustainable path
Ministry of Finance, February 12, 2016 2:01 PM
In December 2015, the volume of industrial output grew by 9.4 percent year-on-year, and thus the sector expanded by 7.5 percent in the year 2015. Current data show that the Hungarian industrial sector posted sustainable, balanced growth and now there is a realistic opportunity for Central and Eastern Europe – within that for Hungary – to become the growth engine of the EU, Deputy State Secretary for Economic Development and Regulation István Lepsényi said at a press conference where he presented the Government’s new industrial policy blueprint, the Irinyi Plan.