Ministry of Finance
News
Inflation to remain flat in 2015, while in the month of October 2015 inflation rate edged up by 0.1 percent
Ministry of Finance, November 10, 2015 11:04 AM
The latest data on inflation released by the Hungarian Central Statistical Office (KSH) show that although the effect of lower oil prices has slightly weakened, it is still a major factor behind prices. The drop in oil prices cut the year-on-year inflation figure by 1.5 percentage points, including ripple effects on production costs.
Hungary only one notch below investment grade status at Moody’s
Ministry of Finance, November 9, 2015 12:38 PM
Hungarian reforms are working: Moody’s has upgraded Hungary’s credit rating outlook from stable to positive. Thus, Hungary has been given a positive outlook by two out of the three largest international credit rating agencies, signalling an impending upgrade.
Awards for Successful Enterprises presented for the month of October 2015
Ministry of Finance, November 9, 2015 10:56 AM
Despite the difficulties it faced in past years, the Hungarian Government has always focused on opportunities instead of obstacles, Minister for National Economy Mihály Varga said at the presentation ceremony of the Awards for Successful Enterprises.
Strong industrial sector momentum persists
Ministry of Finance, November 6, 2015 10:55 AM
Hungary’s industrial sector output has grown steadily over the past two years, and the 7.8 percent year-on-year growth recorded in the month of September signals that the strong upward momentum persists, Deputy State Secretary for Domestic Economy Áron Márk Lenner told public news channel M1, commenting on industrial output data released by the Hungarian Central Statistical Office (KSH).
European Commission predicts faster economic growth for Hungary
Ministry of Finance, November 5, 2015 4:11 PM
The European Commission’s Economic Forecast of autumn 2015 expects GDP growth of 2.9 percent in Hungary for this year, against the 2.8 percent figure prognosticated in May. The Commission’s macro-economic outlook is practically in line with the Government’s predictions.
The balance of the central sub sector of the state budget improved by more than HUF 100bn in October 2015
Ministry of Finance, November 5, 2015 4:00 PM
The central sub sector of the state budget closed the month of October with a surplus of HUF 138.4bn. This has been the consequence on one hand of the transfer of hitherto suspended EU funding totalling several hundreds of billions of forints and – on the other hand – of higher-than-expected tax revenues. Thus, the accumulated shortfall of the central sub sector of the state budget decreased to HUF 816.2bn.
Retail sales remained robust in September 2015
Ministry of Finance, November 5, 2015 2:58 PM
Hungary’s retail sector has been expanding for the 27th consecutive month, Minister for National Economy Mihály Varga said, commenting on the latest retail sales data compiled by the Hungarian Central Statistical Office (KSH) in the month of September. As the Minister pointed out, turnover growth was mainly attributable – besides solid economic growth, record-high employment and rising wages in real terms – to certain Government measures such as the phasing out of forex loans and introducing a family-focused tax regime.
National Assembly adopted the amendment of this year’s state budget
Ministry of Finance, November 3, 2015 2:45 PM
Thanks to the amendment, for the remainder of the year the budget has sufficient funds to cover expenses related to migration, the debt consolidation of public service media and other potentially arising issues. The Government continues to be committed to a predictable and responsible fiscal policy and it maintains the end-of-year fiscal deficit target of 2.4 percent of GDP.
German-Hungarian talks on economic issues held in Berlin
Ministry of Finance, November 3, 2015 11:36 AM
Minister for National Economy Mihály Varga held bilateral talks with his German counterpart, Vice Chancellor and Minister for Economic Affairs and Energy Sigmar Gabriel as well as Finance Minister Wolfgang Schäuble in Berlin.
The region’s common objective is to turn Central Europe into the EU’s growth engine
Ministry of Finance, November 2, 2015 3:42 PM
The Government of Hungary has been aiming to make Hungary’s investment environment as attractive and predictable as possible, and in these efforts the Government continues to rely on the cooperation of German enterprises, Minister for National Economy Mihály Varga said at a conference organized by the Osteuropaverein der Deutschen Wirtschaft.