Ministry for National Economy
News
Strategic agreement with hauliers
Ministry for National Economy, June 4, 2013 2:59 PM
In order to improve the competitiveness of hauliers, today the Government concluded an agreement with private transporters on a compensation scheme for e-tolls.
Massive foreign trade surplus recorded in Q1 2013
Ministry for National Economy, June 3, 2013 11:27 AM
According to the latest flash report on foreign trade turnover by the Hungarian Central Statistical Office (KSH), in the initial three months of this year Hungarian exports and imports totalled HUF 5 891bn (EUR 19.9bn) and HUF 5 367bn (EUR 18.2bn), respectively. Thus, in January-March, a significant foreign trade surplus of HUF 524bn (EUR 1.7bn) was accumulated, which amount is HUF 29bn (EUR 51 million) above the figure recorded in the corresponding period of the previous year. In the first quarter, the volume of exports and imports was on a par with the level registered in the same period of last year.
Number of those in employment increased by 58 thousand
Ministry for National Economy, May 29, 2013 11:32 AM
According to the flash report of the Hungarian Central Statistical Office (KSH) published earlier this morning, the number of those in employment continued to increase compared to the corresponding period of the previous year.
Capital inflow and outflow both broke records last year
Ministry for National Economy, May 28, 2013 8:54 AM
Last year, the amount of foreign direct investments totalled EUR 10.462bn in Hungary, which exceeds the previous year’s figure by EUR 6.7bn and which is the largest amount ever recorded. The amount of outbound FDI by Hungarian enterprises in 2012 was EUR 8.210bn, EUR 5bn above the level registered one year earlier.
Women in Focus: Conference on Measures to Support Women and Families
Ministry for National Economy, May 24, 2013 3:29 PM
The Hungarian Group of the European Parliament's People's Party held a conference entitled "What has the Government Done for Women, Families and Children" on 24 May 2013, within the framework of the Free Europe Debate series. The goal of the Conference was to review the Government's family policies and the results achieved.
Development project of over HUF 4bn completed in Eger
Ministry for National Economy, May 24, 2013 11:26 AM
ZF Lenksysteme Hungary, a manufacturer of steering systems, has expanded its existing production facility in Eger within the framework of a development project costing over HUF 4bn, the company announced as the new site was opened in the city.
Austrian and Hungarian experts discuss labour market prospects for youth in Burgenland
Ministry for National Economy, May 23, 2013 11:45 AM
Austrian and Hungarian professionals held a three-day conference on the labour market status of young people in Szalónak (Stadtschlaining) in the Austrian province of Burgenland, bordering Hungary.
Real wages increased further in March
Ministry for National Economy, May 22, 2013 10:46 AM
Average net wages – excluding family tax allowances -- increased at above the rate of inflation in January-March 2013, by 4.2 percent year-on-year.
Hungary must be taken off the name-and-shame list
Ministry for National Economy, May 21, 2013 3:11 PM
Provided the European Union's decision on the EDP against Hungary is in line with its standard procedure, Hungary must be allowed to stand up from the dunce’s seat where it had been placed by former governments, Minister for National economy Mihály Varga said in an interview for political daily Magyar Hírlap.
Amendment to the Budget Act submitted to Parliament
Ministry for National Economy, May 21, 2013 3:09 PM
The Government has submitted an amendment to the 2013 Budget Act to Parliament which contains certain measures to ensure that Hungary exits the Excessive Deficit Procedure.
Germany is the number one investor in Hungary
Ministry for National Economy, May 17, 2013 11:12 AM
German enterprises have so far invested some EUR 21bn in Hungary, and that places Germany at the very top among foreign investors in Hungary, Minister for National Economy Mihály Varga said an event held to commemorate the 20th anniversary of the establishment of the German-Hungarian Chamber of Industry and Commerce in Budapest. He added that Hungarian exports to Germany had also passed the EUR 20bn mark for the first time.
Closer economic and trade relations with South Africa
Ministry for National Economy, May 16, 2013 4:33 PM
On Monday, the founding session of the Hungarian-South African Economic Joint Committee was held in Pretoria, South Africa. The Hungarian Co-Chairman of the Committee is Secretary of State Kristóf Szatmáry, while his South African counterpart is Deputy Minister of Trade and Industry Elizabeth Thabethe.
International Day of Families – Hungary’s achievements regarding family support
Ministry for National Economy, May 15, 2013 5:06 PM
Twenty years ago, in 1994, the United Nations established 15 May as the International Day of Families to focus attention on families, the most essential component of every society.
New tender for unsuccessful tobacconist applicants
Ministry for National Economy, May 15, 2013 2:35 PM
National Tobacco Sales Nonprofit Ltd. has put out a new tender for tobacconists who were not granted a concession in a recent bid, Minister of State for National Development at the Ministry of National Development János Fónagy announced on Tuesday.
Industrial output up by 0.4 percent in March 2013
Ministry for National Economy, May 15, 2013 11:51 AM
In comparison to the previous month, seasonally and workday-adjusted data indicate that the volume of industrial production increased by 0.4 percent, and thus this sector’s performance improved for the third consecutive month. According to workday-adjusted data, in comparison to the corresponding period of the previous year, industrial output declined by 0.7 percent in March 2013.
The state of the central sub sector of the state budget in April 2013
Ministry for National Economy, May 15, 2013 10:38 AM
In the month of April 2013, the central sub sector of the state budget registered a monthly deficit of 35.0bn HUF. Within that, the central state budget posted a deficit of 79.4bn HUF, and extra budgetary state funds and Social Security Funds registered surpluses of 8.5bn HUF and 35.9bn HUF, respectively.
Out of technical recession: Hungary’s GDP grew by 0.7 in the first quarter
Ministry for National Economy, May 15, 2013 10:27 AM
In line with Government expectations – and according to the flash report of the Hungarian Central Statistical Office (KSH) – the Hungarian economy expanded by 0.7 percent compared to the previous quarter.
Commissioner Rehn calls Hungary’s latest economic measures promising
Ministry for National Economy, May 14, 2013 5:07 PM
European Commissioner for Economic and Monetary Affairs Olli Rehn called the latest economic measures of the Hungarian Government promising, Minister of National Economy Mihály Varga stated on Tuesday. The Minister is currently participating at the Economic and Financial Affairs Council with his European counterparts in Brussels.
2014 deficit figures vital to lifting of EDP
Ministry for National Economy, May 13, 2013 5:30 PM
Next year's fiscal deficit could be crucial from the point of view of the European Commission's Excessive Deficit Procedure against Hungary, Minister for National Economy Mihály Varga said on public television late on Sunday. He stated that this year's budget deficit will not pose a problem, because it can be kept under the 3 percent of gross domestic product European Union threshold with minimal adjustment.
Counties to obtain more EU funding
Ministry for National Economy, May 13, 2013 12:52 PM
Funds with predetermined budgets will be allocated from EU funding within an independent operative programme for regional and urban development and these will be made available to counties and cities with county rights to spend on their own economic development projects, Minister of State for Economic Strategy and Parliamentary Affairs Zoltán Cséfalvay said in Nagykanizsa.
57 thousand people are already participating in Start work schemes
Ministry for National Economy, May 13, 2013 12:49 PM
Currently, there are 135 thousand people in public work schemes, and 57 thousand of them are employed within the Start model programme, Minister of State for Employment at the Ministry for National Economy said in Monostorpályi on Friday.
Fiscal measures available to ensure lifting of excessive deficit procedure
Ministry for National Economy, May 10, 2013 2:47 PM
During recent years, Hungary has moved from being one of the worst performing European countries to become one of the frontrunners of the EU, a result of the Government’s consistent economic policy, Government Spokesperson András Giró-Szász stated at a joint press conference on Friday. He emphasised that the Hungarian Government is convinced that the measures requested by the European Commission are unnecessary, as budget targets will be met without difficulty.
Foundation stone laid for new Eagle Ottawa development
Ministry for National Economy, May 8, 2013 12:09 PM
The new production facility of the car industry supplier – an automotive leather manufacturer -- with its headquarters in the United States will increase the output capacity of the company’s Hungarian subsidiary by 55 percent and add 200 new jobs.
Hungarian innovation policy implements comprehensive reform measures
Ministry for National Economy, May 8, 2013 12:07 PM
Minister of State for Economic Strategy Zoltán Cséfalvay emphasized at the press conference held in Budapest prior to the seminar on the innovation strategies of Hungary and Sweden that Hungary has recently carried out several profound changes with regard to its innovation policy. The event were organised within the framework of the Swedish-Hungarian Innovation Days 2013 series.
Minister Varga: deficit will remain below 3% in coming years
Ministry for National Economy, May 3, 2013 2:31 PM
According to Minister for National Economy Mihály Varga, the European Commission mistakenly forecasts the general government budget deficit-to-GDP ratio to be 3% in 2013 and above 3% in 2014, but in spite of this, the Minister believes that Hungary “stands a fairly good chance” of exiting the EU’s Excessive Deficit Procedure in June.