Ministry for National Economy
News
Positive labour market trends remain firmly in place
Ministry for National Economy, July 30, 2013 1:05 PM
According to the flash report of the Hungarian Central Statistical Office (KSH) published this morning, the total number of those in employment increased again in comparison to the corresponding period of 2012.
200,000 unemployed to be included in public work scheme this winter
Ministry for National Economy, July 30, 2013 8:43 AM
The Government has decided to include 200,000 unemployed in its public work scheme during the winter season, the Ministry of National Economy said. Some 100,000 people will in effect work from November until next April and the other 100,000 will participate from December until March in training programmes aimed at helping them find future employment, the ministry added.
Hungary to fully repay IMF loan until mid-August
Ministry for National Economy, July 30, 2013 8:11 AM
On 15 July, Minister for National Economy Mihály Varga informed IMF Director Reza Moghadam in a letter that Hungary intends to fully repay the IMF loan provided for the country in 2008 ahead of schedule, by 12 August 2013. This option is only open for countries with sufficient fiscal reserves, a stable budgetary policy and positive investor sentiment indicators.
The European Commission drops infringement procedure against Hungary over telecommunications taxes
Ministry for National Economy, July 24, 2013 5:28 PM
The European Commission informed the Ministry of Foreign Affairs last week that it would withdraw its pending case against Hungary with the European Court of Justice regarding the telecommunications taxes, introduced in 2010 temporarily.
Foreign currency denominated mortgages for home purchases shall be phased out
Ministry for National Economy, July 24, 2013 2:15 PM
The Minister for National Economy is about to start negotiations with credit- and financial institutions active in the field of domestic lending. Minister Varga said that in the opinion of the Government foreign currency denominated mortgages for home purchases need to be eliminated from the domestic lending market in a way which “takes into consideration the aspects of timing and burden-bearing”.
Number of registered jobseekers below the half-million mark
Ministry for National Economy, July 24, 2013 12:00 PM
According to the latest data by the National Labour Office, the number of registered jobseekers fell below 500 thousand in Hungary, Minister of State for Employment Policy Sándor Czomba said at the signing ceremony of a funding tender for job creation projects in Nyírkáta.
Government to further strengthen SMEs
Ministry for National Economy, July 18, 2013 3:58 PM
The state is making every possible effort to encourage investment and there will be new resources and new options available for this between 2014 and 2020, Minister of State Zoltán Cséfalvay told public television M1.
Government and Unions agree on 2013 wage guidelines
Ministry for National Economy, July 15, 2013 5:49 PM
Minister for National Economy Mihály Varga signed an agreement on 2013 wage guidelines with representatives of employees' organisations on Monday.
Mihály Varga: Borsodchem receives EUR 70 million export development loan
Ministry for National Economy, July 15, 2013 11:01 AM
The Hungarian Export-Import Bank (Eximbank) and Hungarian chemical giant Borsodchem have signed a 70 million euro loan agreement; the company will receive funds for export development, which will also make it possible for Hungarian small and medium-sized enterprises to play a greater role as the company's suppliers.
Budget deficit targets safe, says Minister Varga
Ministry for National Economy, July 12, 2013 9:02 AM
Hungary will keep its budget deficit this year and next under 3% of economic output and will not need to introduce new taxes, Economy Minister Mihály Varga told press.
The Government is doing everything in its power to make going into business worthwhile
Ministry for National Economy, July 11, 2013 4:27 PM
The Government is doing everything in its power to make going into business worthwhile, and new opportunities will be provided within all instruments and resources between 2014 and 2020, announced the Ministry of National Economy's Parliamentary Minister of State for Economic Strategy in Budapest on Thursday.
Czomba: Job creation funding for SMEs also contributes to retaining workplaces
Ministry for National Economy, July 11, 2013 2:22 PM
The Ministry of National Economy's micro, small and medium-sized enterprises (SMEs) funding tender for job creation development projects contributes not only to the creation of 6500 new jobs, but also to the retention of 13 thousand existing workplaces, Sándor Czomba said on Thursday in Pécs.
Tourism performs excellently: double figure increase in guest turnover in May
Ministry for National Economy, July 11, 2013 1:38 PM
In May, the number of guests received by commercial accommodation services and the number of guest nights increased by 15.2% and 13.7%, respectively, compared to the same month in the previous year, according to the latest data published today by the Central Statistical Office (KSH). Not only have the number of foreign guests increased significantly for the first time in a long while, but there was also a marked increase in domestic turnover.
The Government has concluded a Strategic Cooperation Agreement with Ericsson
Ministry for National Economy, July 10, 2013 5:13 PM
Minister for National Economy Mihály Varga and Ericsson's Head of Customer Unit Central Europe Thomas Jul signed a Strategic Cooperation Agreement on Wednesday in Budapest at Ericsson Hungary's Research and Development Centre.
The European Commission approving the first draft of Hungary’s Partnership Agreement
Ministry for National Economy, July 9, 2013 4:57 PM
The European Commission has approved the first draft of Hungary's Partnership Agreement on planning development resources for the 2014-20 European Union budgetary period, the state secretary in charge of economic strategy said on Tuesday.
State of the central sub sector of the state budget in June
Ministry for National Economy, July 8, 2013 4:26 PM
In the month of June 2013, the central sub sector of the state budget registered a monthly deficit of 162.3bn HUF. Within that, the central state budget posted a deficit of 186.4bn HUF, while Extra Budgetary State Funds and Social Security Funds registered surpluses of 9.4bn HUF and 14.7bn HUF, respectively.
Support for small and medium-sized entreprises is a priority for the Government
Ministry for National Economy, July 8, 2013 1:08 PM
The Government will treat support for small and medium-sized companies (SME) as a priority this year, Economy Minister Mihály Varga told a business forum today.
Hungarian winners of the European Enterprise Promotion Awards honoured
Ministry for National Economy, July 4, 2013 2:36 PM
The awards were presented to the winners of the Hungarian round of the European Enterprise Promotion Awards competition by Minister for National Economy Mihály Varga.
Retail trade volume up by 2.5 percent in May
Ministry for National Economy, July 4, 2013 11:27 AM
According to the flash report of the Hungarian Central Statistical Office (KSH), the volume of retail sales increased for the second month in a row: after growth of 3.4 percent was recorded in April, sales were 2.5 percent higher in May, in comparison to the same period of the previous year. In view of preliminary data, the turnover of stores that sell food, beverages and tobacco products was up by 0.9 percent year-on-year.
Economic cooperation between Hungary and Slovakia
Ministry for National Economy, July 2, 2013 4:17 PM
Minister for National Economy Mihály Varga earlier today received Slovakia’s Minister of Economy Tomás Malatinsky within the framework of the Hungarian-Slovakian Government Summit. At the event, the two sides held negotiations about enhancing mutual cooperation and extending the scope of Hungarian-Slovakian economic partnerships.
Cooperation agreement against illegal car repair workshops
Ministry for National Economy, July 2, 2013 3:09 PM
The Government intends to establish a business and regulatory environment which is capable of combating activities by illegal car mechanics, Minister of State for Employment Policy Sándor Czomba said at the ceremony to mark the conclusion of an agreement between the Ministry for National Economy and the Hungarian Association of Automobile Dealers (GÉMOSZ).
Foreign trade surplus growth accelerating
Ministry for National Economy, July 2, 2013 12:17 PM
In the fourth month of 2013, exports and imports jumped by 13.7 percent and 10.5 percent, respectively, compared to the level of April last year. As a consequence, the volume of total foreign trade increased by 3 percent in the initial four months of the year – says the latest flash report of the Hungarian Central Statistical Office (KSH) published earlier today.
The Government continues to stand for the protection of foreign currency debtors
Ministry for National Economy, June 28, 2013 1:34 PM
The European Commission notified Hungary already in December 2011 within an EU Pilot procedure which warns that the Government Decree stipulating that the monthly income of applicants of foreign currency loans shall exceed a sum equivalent of 15 times the amount of official minimum wage, and the income shall be received in the same currency in which the loan is denominated violates EU law.
Unemployment down to 10.5% and 62 thousand more people in employment
Ministry for National Economy, June 28, 2013 1:31 PM
According to the latest flash report of the Hungarian Central Statistical Office (KSH), the total number of people in employment continued to increase in comparison to the corresponding period of the previous year.
Hungary now fulfils two euro zone accession criteria
Ministry for National Economy, June 28, 2013 12:52 PM
Hungary has already achieved compliance with two out of the three euro zone accession requirements: those on inflation and the government fiscal deficit, Minister for National Economy Mihály Varga said at the general assembly of the Hungarian Association of International Enterprises.