Ministry of Finance
News
Positive wage growth continued in the period January-September 2015
Ministry of Finance, November 20, 2015 12:54 PM
In the period January-September 2015, wages in real terms increased significantly, by 4.2 percent, within the national economy, the Hungarian Central Statistical Office (KSH) reported earlier today. In comparison to September 2014, the number of private sector jobs was 47 thousand higher at enterprises with at least five employees.
In November 2015, budget to receive HUF 300bn of EU funds
Ministry of Finance, November 20, 2015 11:39 AM
The Ministry for National Economy is expecting another amount of HUF 300bn of EU funds in the month of November 2015, and that will significantly reduce cash-flow deficit as well as the general government debt-to-GDP ratio, Minister of State for Public Finances Péter Benő Banai said at a panel discussion.
Hungary has a number of compelling anti-tax-fraud strategies
Ministry of Finance, November 19, 2015 2:46 PM
Hungary has taken on an active role internationally in combating tax fraud; Minister for National Economy Mihály Varga said at the conference organized by PricewaterhouseCoopers (PwC) with the title “VAT Fraud in the CEE region”.
New tax package to ease regulation and simplify processes
Ministry of Finance, November 18, 2015 9:26 AM
The modifications adopted earlier today will ease regulation and simplify processes for tax-paying enterprises and private persons alike, Minister of State and Government Commissioner András Tállai said, following the adoption of the package.
Economy grew by 2.3 percent of GDP in Q3 2015, as a consequence of lower agricultural and higher industrial sector output
Ministry of Finance, November 13, 2015 10:29 AM
In the third quarter of 2015, the Hungarian economy expanded by 2.3 percent year-on-year and by 0.5 percent month-on-month. GDP growth averaged 2.8 percent in the initial three quarters of 2015. Growth that was lower than in prior quarters stemmed from weaker agricultural sector output due to a dry summer. Excluding that factor, analysts of the Ministry for National Economy estimate that GDP growth would have reached some 3 percent.
Economic policy measures opened up new opportunities for domestic SMEs
Ministry of Finance, November 12, 2015 4:11 PM
In recent years, the Government has facilitated the competitiveness of Hungarian enterprises through its economic policy and regulatory overhaul, Minister for National Economy Mihály Varga said at a conference organized by business daily Világgazdaság.
Industrial sector output rose 7.8 percent year-on-year in September 2015
Ministry of Finance, November 12, 2015 3:07 PM
With the latest increase, the sector’s upward trend has been in place for the 25th consecutive month. September’s data are in line with preliminary estimates. Growth was driven mainly by the performance of the Hungarian motor vehicle manufacturing sector, but the food industry and rubber product manufacturers have also been increasingly adding to the expansion. The construction sector posted output growth of above 8 percent, spurred by the revival of the building of homes and real estate investment.
Revenues at accommodation establishments and the volume of tourism traffic showed robust gains in September 2015
Ministry of Finance, November 11, 2015 1:58 PM
Data recall the high season: the number of guests and tourism nights was up by 7.3 percent and 6.7 percent year-on-year, respectively, in the month of September 2015. Thanks to outstanding hotel occupancy ratios, the volume of revenues at accommodation establishments soared by 17.1 percent in the first autumn month. Confuting worries triggered at the height of the migration crisis, inbound tourist arrivals were not only higher than last year’s figure, but they increased more than in August.
Migration issue also on the agenda of EU finance ministers’ meeting
Ministry of Finance, November 10, 2015 4:27 PM
At a working breakfast preceding the Ecofin’s session on Monday, EU finance ministers discussed, among others, the handling of extra fiscal expenditures related to the management of the migration crisis. Following the meeting, Minister for National Economy Mihály Varga said that during the debate it had been concluded that the legal provisions of the Stability and Growth Pact allow the flexible incorporation of migration-related expenditures into government budget deficits.
OECD report upbeat on Hungarian economic outlook
Ministry of Finance, November 10, 2015 3:29 PM
The latest Economic Outlook of the Organization for Economic Cooperation and Development (OECD) presented a positive economic forecast on Hungary, assumptions of which are in line with those of the Government. Prognoses published in autumn 2015 by international organizations, credit rating agencies and market analysts signal that Hungarian reforms are working.