Ministry for National Economy
News
Minister Varga: Deficit target will be met in the 2014 budget
Ministry for National Economy, October 24, 2013 4:37 PM
The deficit target in the 2014 budget will be met thanks to reserves, Minister of National Economy Mihály Varga told lawmakers ahead of a debate of the budget bill.
Record numbers take part in public work programme
Ministry for National Economy, October 24, 2013 4:19 PM
A record number, a total of 200 thousand people will participate in the Government’s public employment programme during this year’s winter period (form November until the end of April), Minister of State for Employment Sándor Czomba of the Ministry for National Economy announced.
Wages continue to increase in real terms
Ministry for National Economy, October 18, 2013 10:09 AM
According to the latest statistics of the Hungarian Central Statistical Office (KSH), wages are continuing to rise. In January-August 2013, gross and net average wages within the national economy were 3.4 percent and 4.8 percent higher, respectively, year-on-year. Thanks to Government measures, along with the steady increase of real wages the improving employment trend is also expected to contribute to the stimulation of domestic consumption.
Hungary’s industrial output growth continues to exceed EU average
Ministry for National Economy, October 15, 2013 10:07 AM
In August this year, industrial performance – according to workday-adjusted data – increased by 0.9 percent in comparison to the corresponding period of 2012, while in light of data adjusted for seasonal and workday-effects the indicator improved by 0.7 percent month-on-month.
Rehau production site ceremonially opened in Győr
Ministry for National Economy, October 14, 2013 2:05 PM
A new production site for the Germany-based Rehau conglomerate was opened in the industrial park of Győr on Monday. At the plant, which cost EUR 60 million (HUF 18bn) to complete and was finalized within one year, bumpers for several Audi models will be produced.
Solar power station owned by local government completed in Monostorpályi
Ministry for National Economy, October 14, 2013 1:14 PM
Monostorpályi is building the future, Minister of State for Employment Sándor Czomba said when he ceremonially connected the solar panel park to Hungary’s domestic electricity network. The HUF 195 million investment project, which produces 300 thousand kWh of electricity per year, was implemented by the support of the European Union.
Annamária Szalay Media Foundation established
Ministry for National Economy, October 14, 2013 1:11 PM
The Foundation, which pays homage to the former president of the National Media and Info-communications Authority, considers it as its main mission to achieve the objectives identified by Annamária Szalay – especially the protection of children and youth against the adverse effects of electronic media, the founders of the organization and the president of the curators’ board said at a press conference in Budapest.
The Government maintains intention of purchasing Dunaferr
Ministry for National Economy, October 14, 2013 10:34 AM
On Friday, Minister for National economy Mihály Varga held talks with the representative of the Russian-owned ISD Corporation Yevgeny Potapov about the future of the Dunaferr conglomerate. At the meeting, Mihály Varga said that the Government maintains the intention to purchase the company and they will do everything in their power to preserve the jobs of company employees.
Knowledge capital is a crucial factor within the Hungarian economy
Ministry for National Economy, October 11, 2013 11:53 AM
Minister of State for Economic Strategy Zoltán Cséfalvay emphasised the crucial role which knowledge capital plays within the national economy at the Figyelő TOP 200 conference in Budapest.
A new milestone of Hungarian-Mongolian economic partnership
Ministry for National Economy, October 10, 2013 1:14 PM
The Hungarian-Mongolian Business Forum organized by the Hungarian Chamber of Commerce and Industry and the Mongolian National Chamber of Commerce and Industry, which was also supported by Hungary’s Ministry for National Economy, held on 8 October 2013 in Budapest was an event which attracted great interest.
Employment scheme to be launched for women above the age of 55
Ministry for National Economy, October 10, 2013 10:21 AM
The Ministry for National Economy is launching an employment programme for those unemployed women who are older than 55 years and who have less than one year of the 40-year employment period required for retirement, Minister of State for Employment Sándor Czomba said at a press conference in Budapest.
The IMF may also be mistaken
Ministry for National Economy, October 9, 2013 4:37 PM
The forecast published by the International Monetary Fund (IMF) in the World Economic Outlook signals that the IMF’s evaluation of the performance of the Hungarian economy is incorrect.
The Government supports Infineon’s new investment project expected to create 533 new jobs
Ministry for National Economy, October 9, 2013 4:35 PM
The Infineon conglomerate, a market-leader among producers and developers of high-performance semi-conductors, expands the existing production capacity at its Hungarian headquarters in Cegléd through an investment project of EUR 65.6 million. This project has been one of the most significant developments of the company in Europe. The contract to provide funding for the development project following a special decision on the part of the Government was signed by Minister for National Economy Mihály Varga and Infineon Deputy President Jörg Spiegel in Budapest. The preliminary phase of decision making and an optimal funding framework have been prepared by the Hungarian Investment and Trade Association.
Banks are the proper institutions for lending
Ministry for National Economy, October 9, 2013 10:35 AM
Although the Hungarian state assumes a role in providing loans for enterprises, but “normally” it is the task of commercial banks to lend to enterprises in line with their business models which are also assisted by state incentives, Minister for National Economy Mihály Varga said at the fourth annual conference of the Association of Hungarian Insurers (MABISZ) in Budapest.
Mongolia is another opportunity for SMEs to gain ground on foreign markets
Ministry for National Economy, October 8, 2013 11:56 AM
The fourth annual meeting of the Hungarian-Mongolian Joint Committee on Economic Cooperation was held today in Budapest where the Mongolian delegation was headed by Minister for Environmental Protection and Green Development Oyun Sanjaasuren and Hungary was represented by Minister of State for Economic Regulation Kristóf Szatmáry.
Financial accounts data at the end of September 2013 in line with estimates
Ministry for National Economy, October 7, 2013 5:38 PM
The central sub sector of the general government budget posted a surplus of HUF 12.1bn in September 2013. The financial accounts data at the end of September are in line with the Government’s prior expectations. Revenues and expenditures anticipated for this month and next – along with the extraordinary surplus projected for the month of December – confirm the expectation that this year’s below 3 percent deficit target will be met.
Public work must be meaningful and productive
Ministry for National Economy, October 4, 2013 3:54 PM
On Thursday Minister of State for Employment Sándor Czomba paid a visit to three small villages in Borsod-Abaúj-Zemplén County with successful public work schemes and spoke about the importance of productive public work, an assertion which has been proven right by several settlements all over the country, in typical disadvantaged regions.
The presence of domestic SMEs to be promoted on international markets
Ministry for National Economy, October 4, 2013 9:51 AM
Speaking at a Budapest conference entitled Hungarian Exports Set to Renew, Minister for National Economy Mihály Varga said that one of the primary objectives of Hungarian foreign economic policy is to assist domestic SMEs to gain ground on international markets to a larger extent than before.
1st Israeli-Hungarian Innovation Day
Ministry for National Economy, October 3, 2013 3:13 PM
The Israeli-Hungarian Innovation Day held in Graphisoft Park Budapest provides the opportunity for Hungarian start-ups to get to know Israel’s research and innovation scene, as several Israeli start-ups introduce themselves and the management of various acknowledged Israeli and Hungarian enterprises make presentations.
Tourism performs excellently in Hungary
Ministry for National Economy, October 3, 2013 10:22 AM
By a 13.7% increase in the number of guest nights compared to last summer’s figures, the touristic sector performs excellently this year in Hungary.
Domestic retail sales up again
Ministry for National Economy, October 3, 2013 10:18 AM
According to the flash report of the Hungarian Central Statistical Office (KSH), in August the volume of retail sales increased by 1.5 percent year-on-year, exceeding the 1.2 percent growth registered in July. Increasing retail sales are a consequence of higher wages in real terms, improving employment and recovering consumer confidence.
Central and Eastern Europe may become Europe’s growth engine
Ministry for National Economy, October 2, 2013 3:14 PM
Central and Eastern Europe -- including Hungary -- has in recent years become Europe’s industrial heartland, and chances are good for the region to turn into the growth engine of the continent, Minister of State Zoltán Cséfalvay of the Ministry for National Economy said at the Hungarian Business Leaders Forum in Budapest. The Minister of State underlined that in order to achieve this goal Hungary shall reconsider its economic strengths and join the global product- and value-chains increasingly with products and services of high added value.
Laying of foundation stone for National Instruments’ Science Park
Ministry for National Economy, October 2, 2013 11:50 AM
The foundation stone of a Science Park, valued at some HUF 4bn, was laid ceremonially at the Debrecen production site of National Instruments (NI) Hungary Ltd.
Hungary’s foreign trade posts significant surplus again
Ministry for National Economy, October 2, 2013 10:37 AM
In July 2013, the volume of exports and imports increased by 7.4 percent and 6.4 percent, respectively, compared to the corresponding period of the previous year, thus foreign trade posted a surplus of EUR 448 million in the seventh month of the year. As a result of the Government’s investor-friendly economic policy, recently implemented large investment projects are expected to generate a foreign trade surplus for the entire year of 2013 which will exceed last year’s figure.
Minister Varga submitted draft budget for 2014
Ministry for National Economy, October 1, 2013 4:02 PM
The Ministry of National Economy will go on with expanding family benefits, reducing administrative burdens in 2014 and abolishing the transaction fee for bank card payments.