Ministry of Finance
News
Positive retail sales trend in place for 23 months
Ministry of Finance, July 23, 2015 11:36 AM
In May 2015, retail sales data adjusted for calendar effects showed that sales volume increased by 5.4 percent year-on-year. Thus, the sector has been expanding for 23 months. The fact that the positive trend remained unbroken after the Sunday shopping ban had been introduced is proven by the latest report of the Hungarian Central Statistical Office and on-line cash register data.
Hungary among the EU countries with the largest state debt decreases
Ministry of Finance, July 23, 2015 9:21 AM
Among the EU28, Hungary recorded the second largest drop in the general government debt-to-GDP ratio last year. According to Eurostat data, the 77.6 percent general government debt-to-GDP ratio is 4.7 percent lower in comparison to first quarter data from 2014. Thus, the Hungarian figure has been far below the EU average.
Wages in real terms up by more than 4 percent in January-May 2015
Ministry of Finance, July 21, 2015 11:25 AM
In January-May 2015, wages in real terms increased outstandingly, by 4.1 percent, within the national economy, the Hungarian Central Statistical Office (KSH) reported earlier today. Thus, a positive wage growth trend has been in place for the 29th consecutive month in Hungary. Compared to May 2014, the number of employees at private sector enterprises with at least five employees grew significantly, by 48 thousand.
NAV President Ildikó Vida resigns
Ministry of Finance, July 20, 2015 4:22 PM
Dr Ildikó Vida, President of the Hungarian Tax and Customs Administration (NAV), submitted a letter of resignation to Prime Minister Viktor Orbán on 20 May 2015. As the law stipulates a two-month period of notice, her legal relationship as NAV president has ended today. Until the new president is named, NAV Deputy President Árpád Varga is to take over the position.
Budapest hosted the first CEE Regional Development Conference
Ministry of Finance, July 20, 2015 4:08 PM
The Central European Regional Conference on Development Finance and Private Sector Development was held – with the participation of the World Bank Group – in Budapest.
Government welcomes Moody’s decision
Ministry of Finance, July 20, 2015 9:53 AM
The Ministry for National Economy appreciates the decision by Moody’s to upgrade Hungarian bank sector outlook from the former negative to stable.
Extra taxes do not violate EU regulations
Ministry of Finance, July 17, 2015 2:11 PM
According to the legal standpoint of the Hungarian Government, the food chain inspection fee and health contribution fee on tobacco products are not in breach of EU law, Minister for National Economy Mihály Varga told public news channel M1, commenting on the announcement of the European Commission that they will launch an inquiry into the issue and prohibit the application of progressive tax rates until the investigation is over.
Taxes lowered again in Hungary
Ministry of Finance, July 15, 2015 10:51 AM
The personal income tax rate is to fall from 16 percent to 15 percent in 2015 and thus the Government leaves HUF 120 more at families, at more than 4 million taxpayers, Deputy State Secretary for Taxation and Zoltán Pankucsi said at a press conference in Budapest.
The Greek crisis to remain on the EU’s agenda for a long time to come
Ministry of Finance, July 14, 2015 2:11 PM
The management of the Greek crisis was the main topic of the ECOFIN’s Tuesday session. Commenting on the presidential report assessing the situation of Greece, Minister for National Economy Mihály Varga said that it was once again proven that Hungary has been the first to recover from the European economic crisis thanks to its economic programme that the Government had implemented in the face of initial harsh criticism.
Industrial output growth continued in May 2015
Ministry of Finance, July 14, 2015 10:49 AM
Data from the month of May 2015 also prove that that the Hungarian industrial sector has been among the fastest-growing economic sectors of Europe. In May 2015, the volume of industrial output was up by 6.2 percent year-on-year, and thus the sector has been expanding for the 21st consecutive month. The largest output growth of 14 percent was recorded in the Southern Great Plain region.