Ministry of Finance
News
State assets have increased significantly in recent years, while sovereign debt has fallen
Ministry of Finance, February 9, 2020 7:00 PM
“The value of state assets has increased significantly to total 6093 billion forints (EUR 17.98 billion) by the end of 2018, while sovereign debt is getting smaller year by year”, Minister of Finance Mihály Varga explained on Kossuth Radio’s “Sunday Paper” show.
The budget closed January with a surplus
Ministry of Finance, February 7, 2020 8:00 PM
Similarly to last year, in 2020 the budget also closed the first month of the year with a surplus. Last year, the Hungarian economy grew by around 5 percent, which also provided the foundations for the positive balance of public finances during the first month of this year.
Hungary could be one of the EU’s greatest tax administration reducers
Ministry of Finance, January 31, 2020 8:00 PM
“We have been among the frontrunners in the tax reduction competition between the member states of the European Union for over three years. Today’s Tax Consultation could help to ensure that in a few years’ time we also realise similar results within the field of reducing tax administration”, the Ministry of Finance’s State Secretary for Taxation Norbert Izer declared following the Tax Consultation.
Hungary’s reputation grew to reach a historical level
Ministry of Finance, January 29, 2020 2:50 PM
Hungary successfully closed the repurchase of high-yield dollar bonds. With this transaction the state will achieve more than HUF 42 billion savings in interest in the years to come, Mihály Varga informed MTI (Hungarian Press Agency).
Responsible business conduct is a competitiveness factor
Ministry of Finance, January 27, 2020 6:00 PM
“Investors prefer to go to countries in which emphasis is placed on responsible business conduct, since they can calculate better with equal competitive conditions and can plan for the longer term”, Minister of State for Financial Policy Affairs Gábor Gion said at an international conference jointly organised by the Ministry of Finance and the Organisation for Economic Co-operation and Development (OECD).
50 billion forints for the continued development of educational institutions
Ministry of Finance, January 23, 2020 4:28 PM
“The Hungarian State has concluded a 50-billion-forint (EUR 150 million) loan agreement with the European Investment Bank in the interests of the development of Hungarian public education institutions and school sports facilities”, Minister of Finance Mihály Varga announced after signing the agreement with EIB Vice President Lilyana Pavlova.
The cost of debt financing is continuing to fall
Ministry of Finance, January 21, 2020 8:00 PM
“The Hungarian Debt Management Agency announced the repurchasing of one billion American dollars in high interest USD bonds on Tuesday”, Minister of Finance Mihály Varga informed Hungarian news agency MTI.
The costs of the EU’s climate strategy must be paid for by the largest polluters
Ministry of Finance, January 21, 2020 2:46 PM
“During the drawing up of the European Union’s climate strategy, one of the most important aspects is that the measures should not mean a disproportionately large budgetary burden for any member state and should not hinder economic growth”, Minister of Finance Mihály Varga declared at a meeting of EU finance ministers (Ecofin).
Last year closed with stable public finances and a major reduction in sovereign debt
Ministry of Finance, January 9, 2020 5:19 PM
Last year, the budget continued to fully assure the resources required for the financing of public duties on the part of the state and the realisation of the government’s economic and social policy goals. According to preliminary estimates, the deficit to GDP ratio of public finances remained well under the level required by the European Union for the eighth year in succession, thanks to which the debt rate produced its most dynamic reduction of the past two decades.
Hungarian-Korean economic relations set to gain further impetus
Ministry of Finance, December 12, 2019 8:00 PM
“Thanks to the Hungarian government’s investment-promoting economic policy and the balanced business environment, an increasing proportion of South Korean enterprises are investing in Hungary each year”, Minister of Finance Mihály Varga highlighted at the third session of the Hungarian-Korean Joint Economic Committee in Budapest on Thursday.