Ministry for National Economy
News
Strategic Partnership Agreement signed with Teva
Ministry for National Economy, May 2, 2013 5:09 PM
The Hungarian Government signed a Strategic Partnership Agreement with Israeli pharmaceutical company Teva on Thursday in Budapest. The agreement was signed by Minister of National Economy Mihály Varga and CEO of Teva Hungary László Szabó.
New Doherty plant opened in Orosháza
Ministry for National Economy, April 29, 2013 1:18 PM
Doherty Hungary held the opening ceremony for its new, 2000sqm production facility in Orosháza with the participation of Minister of State for Economic Regulation Kristóf Szatmáry.
Strategic Partnership Agreement concluded with Waberer’s International
Ministry for National Economy, April 26, 2013 2:25 PM
The document was signed by Minister for National Economy Mihály Varga and Waberer’s President-CEO György Wáberer on Friday in Budapest.
Employment improved again in the first quarter of 2013
Ministry for National Economy, April 26, 2013 10:29 AM
According to a report by the Hungarian Central Statistical Office (KSH) published this morning, the total number of those in employment increased further in comparison to the corresponding period of the previous year. The number of people in employment aged 15-74 years increased to 3 million 818 thousand and thus their employment rate edged up to 50 percent. In the period January-March 2013, the number of people in employment in the 15-64 year age group was also up from 3 million 756 thousand one year ago to 3 million 787 thousand, an increase of 31 thousand.
Eurostat deficit data beats expectations
Ministry for National Economy, April 22, 2013 5:49 PM
The Hungarian general government deficit figure of 1.9% reported by Eurostat is even more favourable than the formerly announced 2.1%.
Consultations with global financial institutions
Ministry for National Economy, April 22, 2013 11:28 AM
In Washington, Minister for National Economy Mihály Varga met with representatives of the International Monetary Fund (IMF) and the World Bank to discuss cooperation options on technical issues. He also held talks with Switzerland’s Economy Minister Johann Scheideer-Ammann about the liberalization of the Swiss labour market with regard to Hungarian jobseekers, in addition to which he sought information about accounts held by Hungarians in Switzerland.
Opening to the East policy continues with Indonesian Minister’s visit
Ministry for National Economy, April 19, 2013 10:15 AM
Minister for National Economy Mihály Varga received Indonesia’s Minister of Public Works Djoko Kirmanto in his office today.
Real wages edging up
Ministry for National Economy, April 18, 2013 1:33 PM
Thanks to moderating inflation, a finalized proportionate, flat-rate personal income tax system and several other Government stability measures, the latest data signals that the purchasing power of wages within in the national economy increased for the second month in a row.
Convergence Programme: faster growth, lower deficit
Ministry for National Economy, April 16, 2013 3:00 PM
The updated Convergence Programme covering the period 2013-2016 projects faster growth and a lower deficit for the upcoming years.
Conference on social dialogue in Budapest
Ministry for National Economy, April 15, 2013 5:31 PM
Minister of State for Employment Policy Sándor Czomba emphasized at a two-day conference entitled Industrial Relations and Social Dialogue in Europe that the key objective of the Government is to maintain social dialogue – as underpinned by new regulations – as this enables society to recover from the crisis more easily.
New regulation to combat illegal trade and theft of metals
Ministry for National Economy, April 15, 2013 3:21 PM
The Government bill adopted on Wednesday aims to combat metal theft, eradicate illegal trade in metals, reduce the economic burdens of public service providers and to safeguard life and property more effectively. As a result of the new proposal, cooperation between authorities and supervisory efficiency will improve. In addition, the Government intends to aid the economic situation of legally operating metal trading enterprises.
Hungary is not a planned economy
Ministry for National Economy, April 15, 2013 2:09 PM
Hungary is not a planned economy, but a market economy, Minister for National Economy Mihály Varga said in an interview with German daily Welt am Sonntag.
Reinvigorating the economy is our primary task
Ministry for National Economy, April 12, 2013 1:34 PM
Reigniting economic growth in Hungary is of paramount importance and also requires the confidence of enterprises as investing here makes economic sense because profit prospects will be favourable, Minister for National Economy Mihály Varga told representatives of large German enterprises with investments in Hungary at a business lunch at the Hungarian Embassy in Berlin.
Trend reversal in the construction sector
Ministry for National Economy, April 11, 2013 2:18 PM
As the number of construction sector contracts increased by 15 percent in the fourth quarter of last year, the Hungarian construction sector appears to have turned the corner this year and the recession may be coming to an end, Deputy State Secretary for Domestic Economy Áron Márk Lenner said at the opening ceremony of the Construma International Building Trade Exhibition.
The majority of German companies would again choose Hungary for their investments
Ministry for National Economy, April 10, 2013 4:44 PM
Perceptions of Hungary’s economic situation among German chief executive officers as well as the commitment of German enterprises to the country have improved: 73 percent of investors would once again pick Hungary as their investment destination. Enterprises are satisfied with the regulatory reform of the labour market, which in regional comparison places Hungary among the best locations for foreign investment.
Business relations with Mexico flourish
Ministry for National Economy, April 10, 2013 11:26 AM
Minister of State for Economic Regulation Kristóf Szatmáry earlier today held talks with Deputy Foreign Minister of Mexico Juan Manuel Gómez-Robledo. The objective of their meeting was to promote SMEs to acquire a larger share in bilateral trade.
Innovation is essential for economic recovery
Ministry for National Economy, April 9, 2013 4:59 PM
Innovation and R&D are key instruments for recovery from the economic crisis, Minister of State Zoltán Cséfalvay said at the conference entitled "Innovation – for small and large enterprises" organized by business daily Világgazdaság. He stressed that innovation requires small and large enterprises alike, as both can have a relevant role to play.
Popularity of forex debtor relief scheme increases
Ministry for National Economy, April 9, 2013 1:43 PM
By the end of February 2013, about 452 thousand people eligible to apply have joined the exchange rate cap scheme. They represent 31 percent of foreign currency mortgage debtors. The stock of forex loans with preferential, fixed exchange rates totalled HUF 1152bn, which corresponds to 37 percent of the total stock of outstanding forex loans at the end of February, the Hungarian Financial Supervisory Authority reported on its website.
The state of the central sub sector of the state budget in March 2013
Ministry for National Economy, April 8, 2013 4:30 PM
Key features of financial processes regarding the central sub sector of the state budget in March 2013.
Currency stability, predictability and increasing confidence constitute the cornerstones of the Government’s economic policy
Ministry for National Economy, April 3, 2013 5:48 PM
Hungary’s Government plans to attract investment to the economy by making its currency more stable rather than by weakening it in an effort to boost exports, Minister of National Economy Mihály Varga told the Wall Street Journal on 2 April.
Strategic Partnership Agreement concluded between the Government and Continental AG
Ministry for National Economy, April 3, 2013 5:42 PM
As part of the economic policy aimed at stimulating investments and related R&D, the Government considers the vehicle manufacturing and electronics sectors as priority areas, and Continental AG is involved in these fields, Minister for National Economy Mihály Varga said, speaking at the signing ceremony.
Regarding the numbers, Hungary should exit the EDP this year
Ministry for National Economy, April 3, 2013 10:52 AM
„Providing Brussels takes only the numbers into consideration, Hungary should exit the Excessive Deficit Procedure (EDP) this year”, Minister of State for Economic Strategy Zoltán Cséfalvay said on Hungarian TV channel M1's MA reggel show.
Hungarian budget deficit only 2% in 2012
Ministry for National Economy, April 2, 2013 5:23 PM
According to data published earlier today by the Hungarian Central Statistical Office (KSH), the budget deficit calculated on the basis of EU methodology was 2% of GDP in 2012, which is more favourable than formerly anticipated by the European Commission in its 2012 Autumn Forecast.
Significant foreign trade surplus again in the first month of this year
Ministry for National Economy, April 2, 2013 3:34 PM
In January 2013, the volume of exports and imports was up by 0.9 percent and 3.3 percent, respectively, in comparison to the corresponding period of the previous year. Hungarian exports and imports totalled HUF 1 890bn and HUF 1 793bn, respectively, thus foreign trade posted a surplus of HUF 97bn (EUR 316 million) in the first month of the year.
Favourable employment data
Ministry for National Economy, March 28, 2013 3:15 PM
In light of the flash report by the Hungarian Central Statistical Office (KSH) released earlier this morning, the positive trend regarding employment – a priority area for the Government – continues unabated. In the period December 2012 - February 2013, according to the latest data, the two-and-a-half-year upward trend is being maintained and the increase in the number of people in employment continued in comparison to the corresponding period of the previous year. Within the observed period, the total number of people in employment was 3 million 817 thousand, which corresponds to an increase of 0.6 percent compared to the same period in 2011-2012. Another favourable sign is that employment indicators improved with regard to both sexes.