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Hungary to achieve the below 3 percent deficit target this year

Ministry of Finance, October 2, 2014 2:32 PM

The Government of Hungary has been and will be committed to a strict fiscal policy, a budget deficit below 3 percent of GDP and keeping state debt on a descending path, Minister of State for Parliament András Tállai said in response to the recently published European Commission EDP report. The amount of EUR 3bn among June data that the Commission has received is allocated for debt repayments of this year and that will cut state debt by 3 percent, he added.

V4 Cooperation on Air Purity and Waste Management

Ministry of Agriculture, October 2, 2014 1:24 PM

The Slovakian presidency of the Visegrád Group (V4) convened a meeting of high-level representatives of the four countries in Bratislava on 29-30 September 2014 to discuss current EU and international environmental issues.

EU Agriculture Ministers Discuss Food Security

Ministry of Agriculture, October 2, 2014 1:15 PM

The European Union’s Agriculture Ministers attended a meeting in Milan between 28-30 September, organised by the Italian presidency of the EU to discuss food security.

Péter Szijjártó pledges to lay foundations of new foreign policy

Ministry of Foreign Affairs and Trade, October 1, 2014 5:35 PM

Hungarian diplomacy will focus on enforcing the country's economic interests in the most effective way possible, new Minister of Foreign Affairs and Trade Péter Szijjártó said on Wednesday.

Export is the key element of lasting growth

Ministry of Foreign Affairs and Trade, October 1, 2014 4:24 PM

Lasting economic growth could be achieved by Hungary in 2014, with export being the major contributing factor, said Minister of Foreign Affairs and Trade Szijjártó Péter at the conference ‘Export expansion: where, how, what?’, organized by the newspaper Világgazdaság in Budapest this Tuesday.

Debt ratio continues to fall and fiscal deficit stays at 2.9 percent this year

Ministry of Finance, October 1, 2014 1:13 PM

The Hungarian Central Statistical Office (KSH) has submitted Hungary’s EDP report to the statistical body of the European Commission. The Ministry for National Economy is prognosticating a lower-than-expected general government debt-to-ratio of 76.9 percent, 2.9 percent budget deficit and economic growth of 3.1 percent for 2014. For 2013, GDP increase was revised up from 1.1 percent to 1.5 percent.

MKB Bank is now part of national assets

Ministry of National Development, October 1, 2014 11:24 AM

The sale and purchase transaction between the old and new owner of MKB Bank was completed successfully and according to plans on 29 September, 2014. Pursuant to the agreement signed between Bayerische Landesbank and the Hungarian Minister of National Development representing the Hungarian State, the bank was brought into national ownership. The Government aspires to extend Hungarian ownership in the banking system, whereby the Hungarian population and enterprises become less exposed to banks in terms of financial services.

Hungarian unemployment rate well below EU average

Ministry of Finance, October 1, 2014 8:58 AM

Eurostat data show that Hungary’s unemployment rate fell to 7.8 percent. Over the past year, Hungary’s drop in unemployment was the largest among the EU28. The unemployment rate averaged 11.5 percent among 18 eurozone member states, while it was 10.2 percent in the entire EU.

Land for Farmers Programme continues

Ministry of Agriculture, September 30, 2014 7:06 PM

The Land for Farmers Programme is continuing, within the framework of which a further 24 thousand hectares of state-owned land will now be made available to farmers, The Ministry of Agriculture’s Minister of State for State Lands announced.

Vehicle manufacturing sector expanded by 32 percent in 2013

Ministry of Finance, September 30, 2014 10:48 AM

The year of 2013 brought about a positive U-turn also within the vehicle manufacturing sector, as output in this division grew by 32 percent and the number of new jobs was up by 2000, Minister for National Economy Mihály Varga said in Kecskemét, at the Deloitte car industry conference entitled “Innovation.Incubation.Financing.”