Ministry of Finance
News
International recognition of Hungary’s economic policy
Ministry of Finance, January 27, 2016 11:25 AM
France’s Coface, one of the largest European credit insurance companies, presented an upbeat picture of the Hungarian economy and its future prospects in a recently published study. The company also upgraded Hungary – as the only one among the analysed countries -- within its own credit rating system.
Mongolia is a strategic partner for Hungary
Ministry of Finance, January 26, 2016 2:11 PM
Minister for National Economy Mihály Varga held talks on developing economic cooperation with Mongolia in Ulan Bator. Industrial cooperation can be one of the promising fields for deepening relations, which may lead to higher industrial sector revenues, a larger volume of high-tech products and a broader market for high added value goods.
Retail sector may gain further this year
Ministry of Finance, January 25, 2016 4:29 PM
Outstanding retail sector data over the past 30 months confirm that the propensity of households to spend money has improved and they have become much more upbeat concerning their income prospects, Deputy State Secretary for Domestic Economy Áron Márk Lenner said at a press conference, commenting on the latest retail sales statistics. “In 2016, retail sales growth is expected to continue, and it is going to be significantly influenced by e-commerce,” he added.
Zero tolerance against tax fraudsters in personal transport
Ministry of Finance, January 22, 2016 1:13 PM
The Government is doing everything in its power to ensure that companies and private persons offering personal transport services comply with regulations on taxation and driving safety, Minister of State for Parliamentary and Taxation Affairs András Tállai said. Uber drivers are going to be constantly and strictly controlled by the Hungarian Tax and Customs Administration (NAV), he added.
Hungary continues to be an attractive investment destination
Ministry of Finance, January 22, 2016 12:22 PM
Economic data that repeatedly beat expectations are creating an investor-friendly environment among others for large enterprises operating in Hungary, Minister for National Economy Mihály Varga said at the general assembly of the Hungarian Association of International Enterprises in Budapest.
Wages in real terms up for almost 3 years in Hungary
Ministry of Finance, January 21, 2016 2:59 PM
Wages in real terms grew year-on-year by 4.2 percent in the period January-November 2015, according to the flash report of the Hungarian Central Statistical Office (KSH) published earlier this morning. Commenting on these data, Minister of State for the Labour Market and Vocational Training Péter Cseresnyés said that thus wages in real terms have been rising for the thirty-fifth consecutive month.
The Government does not plan changes to the tax regime
Ministry of Finance, January 19, 2016 3:00 PM
The Government is not contemplating changes to the tax regime, as the current system based on proportionate burden-sharing – which supports legal jobs and recognizes the costs of raising children – is far better than any proposal by the IMF, OECD or other international bodies, Deputy State Secretary for Taxation and Auditing Zoltán Pankucsi told public news channel M1.
Lending growth to fuel economic expansion in Hungary
Ministry of Finance, January 19, 2016 2:38 PM
Thanks to the Family Housing Allowance (CSOK), demand for residential properties and loans is expected to rise, Minister for National Economy Mihály Varga said at a conference on the future of Central and Eastern European countries, organized by financial periodical Euromoney in Vienna. Speaking of the Government’s measures aimed at boosting lending, the Minister said that the Government was planning to reduce administrative burdens in this field.
Compared to 2010, HUF 850bn more may this year be left at taxpayers
Ministry of Finance, January 18, 2016 2:52 PM
One of the key principles of the new tax regime created since 2010 has been to reduce taxes on employee income, Minister for National Economy Mihály Varga said in an interview to political daily Magyar Idők. The new system leaves much more money at private persons and those must pay higher taxes who consume more, he stressed.
Labour market issues on OECD ministerial meeting agenda
Ministry of Finance, January 15, 2016 3:11 PM
One of the main objectives of the Hungarian Government is to give further impetus to labour market growth, Minister for National Economy Mihály Varga said at the OECD conference of employment and labour ministers held in Paris. Following this year’s first plenary session, the Minister said that Hungary is to celebrate the 20th anniversary of Hungary’s OECD membership and the country will devote a full-year programme to mark this event.