Ministry for National Economy
News
Minister for National Economy: taxation system completed - time for fine-tuning
Ministry for National Economy, March 26, 2013 5:03 PM
On visiting the Budapest centre of the National Tax and Customs Administration (NAV), Minister for National Economy Mihály Varga said at a press conference that the general taxation overhaul has been finalized and now it was time for fine-tuning.
Minister for National Economy Mihály Varga congratulated Mihály Patai on his appointment
Ministry for National Economy, March 25, 2013 1:54 PM
In a phone call Mihály Varga congratulated Mihály Patai for being nominated for the post of Hungarian Banking Association President.
Everything hinges on growth in Hungary - EcoMin Varga
Ministry for National Economy, March 25, 2013 9:38 AM
A single final solution to the problems of Hungary’s foreign currency debtors would be amazing, but it became clear in the past two years that no such solution exists, Economy Minister Mihály Varga told Portfolio.hu in an interview. The remedy will likely consist of several stages and only the existing means should be applied to assist distressed FX borrowers, he added. Varga said local energy service providers survived the 10% reduction to retail energy tariffs, adding he hoped the cabinet did successfully lower their profits because they had ample reserves in this field.
The Hungarian Government plans no election-time budget and wants no weak forint
Ministry for National Economy, March 20, 2013 10:48 AM
Minister of State at the Ministry for National Economy Zoltán Cséfalvay has earlier today met with investors and financial analysts at a conference organized by Barclay’s in London.
Hungary among EU countries where employment has improved most impressively
Ministry for National Economy, March 19, 2013 3:24 PM
Although in light of the latest Eurostat data, as a whole, the number of people in employment declined in Q4 2012 within both the eurozone and the European Union, in Hungary, the relevant figure improved. Hungary achieved the fourth best growth rate in the EU regarding this field.
In focus: stability, predictability and increasing confidence
Ministry for National Economy, March 12, 2013 6:36 PM
The new leadership of the Ministry for National Economy considers stability, predictability and increasing confidence the cornerstones of its policy. Economy Minister Mihály Varga does not believe it necessary to introduce new measures for addressing the plight of forex debtors, but he intends to extend and fine-tune those already in place.
Impressive data with regard to the employment of women
Ministry for National Economy, March 8, 2013 4:05 PM
Last year 52.1 per cent of women aged 15-64 years had a job in Hungary, and this is the highest employment rate recorded by the Hungarian Central Statistical Office since 1992 – Ministerial Commissioner responsible for the improvement of women’s employment prospects Piroska Szalai said at a press conference in Szombathely.
Investment projects totalling 5bn HUF completed at the Hungarian plants of Coloplast
Ministry for National Economy, March 8, 2013 3:18 PM
Coloplast of Denmark has implemented E-funded development projects worth HUF 5bn at its Hungarian production facilities – the company’s Senior Vice President Allan Rasmussen said at the press conference organized on the completion of the project in Nyírbátor. Minister of State for Employment Policy Sándor Czomba also participated at the event.
Mihály Varga has been appointed as Minister of National Economy
Ministry for National Economy, March 8, 2013 3:06 PM
Mihály Varga was appointed as Minister of National Economy by János Áder, the President of the Republic of Hungary, at the proposal of Prime Minister Viktor Orbán.
The State of the Central Sub-Sector of the State Budget in February 2013
Ministry for National Economy, March 7, 2013 3:28 PM
Key features of financial processes regarding the central sub-sector of the state budget in February 2013.
Incoming Minister of National Economy Mihály Varga outlined economic policy cornerstones
Ministry for National Economy, March 5, 2013 5:31 PM
Mihály Varga has explained his views on Hungarian economic policy targets at hearings in the Parliament’s education and employment committees taking place yesterday and continuing today. The hearings took place prior to the Minister’s official appointment at the helm of the National Economy Ministry in a new post merging with his earlier position as chief negotiator with the IMF. The committees endorsed Varga’s nomination to replace György Matolcsy, who will be head of the central bank.
Manufacturing industry investments increased dynamically
Ministry for National Economy, February 28, 2013 1:45 PM
Investments in the manufacturing industry, which constitute one-third of total investments in the national economy, increased by 5.3 percent in the period October-December 2012 compared to one year ago. Investments, however, decreased with regard to the entire national economy: according to the latest flash report of the Hungarian Central Statistical Office (KSH), in Q4 2012 the volume of investments was down by 7.9 percent in comparison to the corresponding period of 2011.
Negotiations on households’ foreign currency debt to continue next week
Ministry for National Economy, February 27, 2013 5:58 PM
Negotiations aimed at solving the problem of those with foreign currency loans have commenced and will continue next week, Financial Affairs Commissioner György Doubravszky said at a press conference in Budapest.
First Job Guarantee Programme Re-launched
Ministry for National Economy, February 26, 2013 4:33 PM
The First Job Guarantee Programme to assist career-starters will be re-launched as of 1 March 2013 with resources totalling HUF 5bn, which provides support for at least 7200 young people, Minister of State for Employment Sándor Czomba said at a press conference in Budapest. Skilled and unskilled young people under the age of 25 can sign up to the Programme at employment centres, which will also help them find an employer.
Employment rates continue to increase
Ministry for National Economy, February 26, 2013 11:05 AM
According to the latest data from the Hungarian Central Statistical Office (KSH), employment growth is continuing unabated. In the period November 2012-January 2013, 39 thousand more people were employed than one year ago. Thus, the number of people in employment in the 15-74 year age group increased from 3 million 816 thousand to 3 million 855 thousand. This was the 30th consecutive month in which the number of people in employment was higher compared to the corresponding period of the previous year. Employment indicators show signs of improvement with regard to both sexes and every age group.
Retail sales performance above Eurozone and regional average
Ministry for National Economy, February 25, 2013 12:09 PM
According to currently available Eurostat data, retail turnover decreased in 13 EU countries in December, while growth was registered in nine of them.
Fiscal deficit will certainly remain below 3 percent
Ministry for National Economy, February 22, 2013 12:45 PM
According to its Winter Forecast published earlier today, the European Commission expects that fiscal deficit will be higher than anticipated by the Hungarian Government. Contrary to Brussels’ expectations, however, Hungary is certain of achieving a fiscal deficit of well below 3 percent.
Private sector wage increase exceeded inflation in December
Ministry for National Economy, February 21, 2013 3:59 PM
In December 2012, gross average wages in the private sector increased by 8.3 percent, whereas net wages excluding family tax allowances were up by 6.2 percent, beating inflation, in comparison to the corresponding period of the previous year – the Hungarian Central Statistical Office reported earlier this morning.
Hungarian-Flemish Joint Commission meets in Brussels
Ministry for National Economy, February 21, 2013 3:33 PM
The Hungarian-Flemish Joint Commission held its scheduled meeting on 21 January 2013 in Brussels. The Hungarian Co-Chairman of the Joint Commission, Minister of State for Employment Sándor Czomba, signed an agreement with his Flemish partner, Secretary-General of the Flemish Foreign Ministry Koen Verlaeckt on the work agenda for the upcoming period.
Hungary insists on tax-exempt status for home-made pálinka
Ministry for National Economy, February 21, 2013 2:42 PM
The Government assures Hungarians those rights that citizens of other EU countries are also entitled to. The European Commission disputes the regulation providing tax-free status for distilling home-made pálinka; in their view the exemption is in breach of EU regulations. In the opinion of the Government, however, the relevant Hungarian legislation is fully in accordance with EU legal requirements.
Agreement signed for establishing the European Unified Patent Court
Ministry for National Economy, February 20, 2013 10:42 AM
The agreement on unified patent jurisdiction was signed in Brussels and thus the final stage of the five-decade long process aimed at establishing a unified European patent system has been completed, for the time being with the participation of 25 countries.
German-Hungarian tourism forum in Berlin
Ministry for National Economy, February 20, 2013 10:36 AM
The Bundestag’s Tourism Committee of the Federal Republic of Germany and the Sport and Tourism Committee of the Hungarian Parliament held talks on deepening traditionally good tourism relations between the two countries. Representatives of the Ministry for National Economy and professional organizations on behalf of domestic tourism enterprises also participated at the forum organized by the Bundestag, the Hungarian Embassy in Berlin, the Sport and Tourism Committee of Hungary’s National Assembly and the German representation of Hungarian Tourism Plc.
Ministry for National Economy to hold talks with banks again
Ministry for National Economy, February 18, 2013 5:53 PM
The Ministry for National Economy will once again negotiate with banks and offer significant incentives in order to stimulate lending, Minister of State for Taxation and Financial Affairs Gyula Pleschinger said at the Kossuth Rádió weekend programme G7.
Further decrease in debt-to-GDP ratio
Ministry for National Economy, February 18, 2013 4:25 PM
Hungary continues to achieve outstanding results in the fight against debt, and thus general government debt as of GDP declined by 6.4 percentage points in comparison to the second quarter of 2010. Socialist governments have never achieved so much.
Strategic cooperation agreement between the Government and National Instruments Hungary Kft
Ministry for National Economy, February 18, 2013 10:14 AM
The Government of Hungary concluded a strategic partnership agreement with National Instruments Hungary Kft (NI Hungary), the market leader in measurement and control technology. This has been the 15th such partnership finalized with a multinational company based abroad. The contract was signed at the Debrecen headquarters of NI Hungary by Minister of State at the Ministry for National Economy Zoltán Cséfalvay and Chief Executive Officer of NI Hungary László Ábrahám.