Ministry of Finance
News
Industrial output-to-GDP ratio in Hungary to rise to 30 percent by 2020
Ministry of Finance, September 15, 2015 2:27 PM
It is one of the Government’s key economic policy goals to increase the industrial output-to-GDP ratio from the current 23 percent to 30 percent by 2020, Minister of State for Economic Regulation Béla Glattfelder said at a car industry career forum in Győr, Western Hungary.
Persistent migrant influx may prompt amendment of the 2015 Budget
Ministry of Finance, September 15, 2015 1:06 PM
In the short term, it is manageable through fiscal re-allocations to provide funding for higher migration-related expenditures on police and national defence tasks, but in case the influx of migrants persists, it may lead to a fiscal amendment, Minister for National Economy Mihály Varga told hirado.hu in an interview.
Hungarian enterprises may join urban development projects in the United Arab Emirates
Ministry of Finance, September 15, 2015 8:24 AM
Thanks to the Memorandum of Understanding on economic cooperation scheduled to be concluded in the coming days between the United Arab Emirates and Hungary, Hungarian enterprises will be offered new economic opportunities, Minister for National Economy Mihály Varga said, following a meeting with Minister of Economy Sultan Bin Saeed Al Mansoori from the United Arab Emirates.
Tourism campaign launched to maintain Hungary’s market share in Russia
Ministry of Finance, September 14, 2015 3:32 PM
As of the end of September, the Ministry for National Economy launches a tourism promotion campaign of some HUF 26 million designed to maintain Hungary’s tourism market share in Russia, Deputy State Secretary for Tourism Ádám Ruszinkó told Hungarian news agency MTI.
ECOFIN focused on bolstering economic relations within the EU
Ministry of Finance, September 14, 2015 1:31 PM
As Minister for National Economy Mihály Varga stressed, he fully agreed with the main principles of the Investment Plan for Europe discussed at an informal ECOFIN session in Luxembourg. Through the Plan, the Government of Hungary aims to facilitate the realization of as many projects as possible in Hungary, he stated.
Industrial sector posted 7 percent output growth in January-July 2015
Ministry of Finance, September 14, 2015 12:49 PM
Hungary’s industrial output was up by 3.4 percent and by 6.7 percent in July 2015 and in the initial seven months of 2015, respectively. Data continue to show a sound growth structure: nine out of the altogether thirteen industrial sub sectors registered output increases, while the sector expanded in every region.
New opportunities in Hungarian industrial development
Ministry of Finance, September 10, 2015 3:57 PM
Minister for National Economy Mihály Varga met with UNIDO (United Nations Industrial Development Organization) Director General Li Yong to consult about Hungary’s re-industrialization policy. At the event, representatives of the organization called it an outstanding result that Hungary’s industrial output-to-GDP ratio of 23 percent places us among the most highly industrialized economies of the Europe.
Revenues at accommodation establishments up 20 percent y/y
Ministry of Finance, September 10, 2015 11:24 AM
Tourism sector expansion continued in the month of July 2015. Following a strong start at the beginning of the year and outstanding data in June, accommodation statistics from the second summer month are also indicating excellent results. The fact that tourism traffic was higher in every region of the country is another positive development.
Fiscal policy fully in line with legal requirements of the EU and Hungary
Ministry of Finance, September 10, 2015 9:41 AM
The Ministry for National Economy rejects the glaringly subjective conclusions of the “Open Budget Survey 2015”, a questionnaire-based study of fiscal practices. The drafting of the budget is conducted in theory and practice fully in compliance with given legal guidelines, and protocols are respected and strictly observed concerning the submitting, debating and adopting of the draft the budget.
Foreign trade surplus up by EUR 1.2bn in January-July 2015
Ministry of Finance, September 9, 2015 4:28 PM
In the initial seven months of the year, the volume of Hungarian exports and imports of goods rose by 8.3 percent and 6.9 percent, respectively, thus the foreign trade sector accumulated a surplus of EUR 4.9bn. In comparison to the corresponding period of the previous year, surplus was up by EUR 1.2bn.