Ministry of Finance
News
More guest nights and increased revenue for Hungarian tourism
Ministry of Finance, July 9, 2015 2:00 PM
Tourism has again closed this spring with unbreakable growth rates: in May, 950 thousand guests spent HUF 2.25 million nights in the country’s accommodation establishments. Guest turnover and the number of guest nights increased by 6 percent and 3.8 percent, respectively, compared to the same period of the previous year.
Ministry for National Economy continues to expect stable prices
Ministry of Finance, July 9, 2015 11:29 AM
Consumer prices are in line with the estimate of the Ministry for National Economy, and accordingly the Ministry continues to expect no significant inflation during the remainder of the year, in addition to which it is forecasting zero percent inflation and price stability for the year as a whole, Minister of State for Taxation and Financial Affairs Gábor Orbán said on Wednesday at a press conference in Budapest.
Deficit of the state budget’s central sub-sector meets expectations
Ministry of Finance, July 7, 2015 4:30 PM
The deficit of the central sub-sector of the state budget was HUF 823.3bn at the end of June 2015. Within that, the central sub-sector closed the month with a deficit of HUF 868.1bn, while Social Security Funds and Extra Budgetary State Funds posted surpluses of HUF 15bn and HUF 29.8bn, respectively.
Minister Varga met with EBRD delegation in Budapest
Ministry of Finance, July 3, 2015 1:23 PM
Minister for National Economy Mihály Varga received in his office the delegation of the European Bank for Reconstruction and Development. At the meeting, the parties discussed the implementation of the Memorandum of Understanding (MoU) concluded in February this year and the EBRD’s upcoming Country Strategy Update on Hungary.
Hungary’s foreign trade continues to post massive surpluses
Ministry of Finance, July 3, 2015 10:08 AM
Hungarian foreign trade indicators – similarly to past months and quarters – showed positive changes in the month of April 2015: the volume of Hungarian exports and imports rose by 8.4 percent and 9.4 percent, respectively, year-on-year. Thus, foreign trade surplus reached almost EUR 500 million in the observed period. The Ministry for National Economy is expecting these favourable foreign trade trends to remain in place for the entire year.
Hungarian enterprises expected among participants of Serbian privatization
Ministry of Finance, July 2, 2015 9:28 AM
On the sidelines of the Hungarian and Serbian prime ministers’ summit, Minister for National Economy Mihály Varga and Minister of State for Economic Regulation Béla Glattfelder met with Serbian Economy Minister Željko Sertić and Finance Minister Dušan Vujović. At the event, the Serbia’s representatives announced that the Serbian Privatization Agency has been preparing the privatization of 51 Serbian companies and they welcome every Hungarian enterprise showing interest as the Agency hopes to have investors from neighbouring countries.
American companies consider Hungary to be an important economic partner
Ministry of Finance, June 30, 2015 3:43 PM
Hungary has managed to successfully confront the financial crisis the repercussions of which Greece is suffering from even today, Minister for National Economy Mihály Varga said at the business forum organized by the American Chamber of Commerce in Hungary. Speaking of the country’s current economic situation the Minister pointed out that macro-economic indicators, which have recently tended to beat prior expectations, provide an investor-friendly business environment also for American enterprises operating in Hungary.
Potential fallout of Greek crisis factored into 2016 Budget
Ministry of Finance, June 30, 2015 1:12 PM
The Government has adopted a stable budget for 2016 which takes into account the potential repercussions of the Greek crisis and includes a contingency fund of above HUF 200bn, Minister of State for Public Finances Péter Benő Banai told public news channel M1.
European Investment Bank provides loan facility of 500 million EUR to Hungary
Ministry of Finance, June 30, 2015 10:56 AM
EIB Vice-President László Baranyai and Minister for National Economy Mihály Varga signed a loan agreement for EUR 500 million. The main rationale for concluding the agreement was that low-cost EIB loans make the co-financing of projects supported by EU funding easier.
Events in Greece to have limited impact on Hungary’s economy
Ministry of Finance, June 29, 2015 4:18 PM
The latest developments of the Greek crisis are having a limited impact on the Hungarian economy, as trade relations with Greece are relatively modest, constituting only 0.4 percent of overall foreign trade volume, Minister for National Economy Mihály Varga told journalists following the presentation ceremony of Awards for Successful Enterprises in Budapest.