Ministry for National Economy
News
Hungarian satellite functions faultlessly
Ministry for National Economy, February 14, 2013 1:47 PM
Masat 1, the small satellite developed by Hungarian researchers, which was orbited on 13 February last year, has been operating perfectly and has broken all records in its category, the audience was informed at a press conference organized to celebrate its 1st “birthday”.
Tenders for job creation to be announced again this year by the Ministry for National Economy
Ministry for National Economy, February 13, 2013 2:19 PM
As in the past couple of years, the Ministry for National Economy will this year also publish tenders aimed at generating jobs. As a result of such support, the Ministry expects that 5200 new jobs will be created at micro-, small- and medium-sized enterprises, Ministry of State for Employment Policy Sándor Czomba said at a press conference in Budapest.
Swedish-Hungarian conference on connecting modern technologies and energy efficiency
Ministry for National Economy, February 12, 2013 4:45 PM
How can intelligent technological solutions contribute to saving energy, cutting expenses or the sustainable development of a city? – asked Swedish Trade Minister Ewa Björling at the press conference as the motto of an event organized in Budapest by the Embassy of Sweden, Business Sweden and the Ministry for National Economy.
Hungarian economic policy is based on financial stability and reforms
Ministry for National Economy, February 12, 2013 12:41 PM
The two pillars of Hungary’s economic policy are financial stability and reforms, Minister of State at the Ministry for National Economy Zoltán Cséfalvay said at a conference.
OECD: Hungary’s leading indicator of economic activity continued to improve in December
Ministry for National Economy, February 11, 2013 4:18 PM
It is the fifth month in a row that the leading economic indicator for Hungary showed improvement in December, but the pace of growth remains below the long-term trend, according to the indicator tracking Hungarian real economic cycles prepared by the Organization for Economic Co-operation and Development (OECD).
Moody's verdict is biased and unsubstantiated
Ministry for National Economy, February 9, 2013 10:54 AM
The Hungarian Government cannot comprehend why Moody's Investors Services does not take into account what Hungary has achieved lately.
The state of the central sub sector of the state budget in January 2013
Ministry for National Economy, February 7, 2013 4:00 PM
In the month of January 2013 the central sub sector of the state budget registered a deficit of almost 2.5bn HUF which corresponds to only 0.3 percent of the statutory estimate of 841.8bn HUF for the entire year. Within that, the central state budget posted a deficit of 90.7bn HUF, while Social Security Funds and extra budgetary state funds posted surpluses of 50.9bn HUF and almost 37.3bn HUF, respectively. In the month of January 2012 the central sub sector of the state budget had a surplus of 107.3bn HUF.
Foundations of healthy economic growth established
Ministry for National Economy, February 7, 2013 2:27 PM
According to Minister of State Zoltán Cséfalvay, the basis of sound economic expansion has been laid down and it is crucial, because in the long term growth must not be financed from debts.
Successful visit as part of „Opening to the East” policy
Ministry for National Economy, February 5, 2013 2:06 PM
Minister of State for Economic Regulation at the Ministry for National Economy Kristóf Szatmáry – who is also responsible for external economic affairs – paid an official visit to India, Thailand and Vietnam between 28 January and 1 February.
Unemployment up in the EU but trend continues down in Hungary
Ministry for National Economy, February 1, 2013 2:09 PM
The euro-zone unemployment data for December 2012 published by the Eurostat were more favourable at 11.7 percent than the consensus estimate of Reuter’s analysts (11.9 percent). As of June 2010 the unemployment rate in Hungary has declined -- albeit slowly but steadily -- altogether by 0.4 percent, whereas the corresponding EU rate which was initially lower has continued to rise.
The 60 percent of EU funds to be spent on economic development
Ministry for National Economy, February 1, 2013 1:21 PM
In the 2014-2020 fiscal period of the European Union Hungary will allocate the 60 percent of EU resources to stimulating growth and the development of the economy, according to the decision of the Government of Hungary. In the fiscal period ending in 2013 only the 16 percent of EU funds were utilized for this goal, said Minister of State at the Ministry for National Economy Zoltán Cséfalvay at a Budapest conference organized by the Hungarian Economic Association on Thursday.
Positive foreign trade balance also in November
Ministry for National Economy, February 1, 2013 11:07 AM
According to the latest flash report of the Hungarian Central Statistical Office, in January-November 2012 the volume of exports and imports increased by 1.5 percent and 0.4 percent, respectively, in comparison to the corresponding period of the previous year. In this period foreign trade surplus amounted to 1 947bn HUF (6.7bn EUR). Calculating in forints this amounts exceeds by 59bn HUF the figure registered in the initial eleven months of 2011, while due to exchange rate change the amount in euros is 23 million EUR below that level.
Interview with Minister Matolcsy in The Wall Street Journal
Ministry for National Economy, January 31, 2013 12:43 PM
Minister of National Economy György Matolcsy gave an interview recently to the Wall Street Journal, which can be read below.
The annual economic policy consultation with representatives of the IMF and EU has been concluded successfully
Ministry for National Economy, January 29, 2013 8:10 AM
Representatives from the International Monetary Fund and the European Commission met with leaders and experts from the Hungarian Government, the National Bank of Hungary, the Hungarian Financial Supervisory Authority, and with certain financial sector operators, within the framework of their annual economic policy consultation. The meetings included negotiations on economic forecasts for winter 2013.
Strategic Partnership Agreement signed with Nokia Siemens Network
Ministry for National Economy, January 28, 2013 5:40 PM
Doubling Hungary’s GDP by 2025 is an important national goal, Minister of National Economy György Matolcsy said on Monday at the signing of a Strategic Partnership Agreement with Róbert Ésik, Managing Director of Nokia Siemens Networks Ltd.
Hungary fulfilled its prepayment obligation to the International Monetary Fund before deadline
Ministry for National Economy, January 25, 2013 11:46 AM
Earlier today Hungary has transferred 607 million EUR as loan prepayment to the International Monetary Fund due on 12 February 2013. By paying more than two weeks prior to maturity, market risks associated with repaying the IMF loan are eliminated.
Hungarian retail sales mirror European tendencies
Ministry for National Economy, January 25, 2013 11:23 AM
In the initial eleven months of 2012 sales of food, beverages and tobacco products declined by only 0.6 percent year-on-year in an unfavourable global economic climate. In the eleventh month of last year, however, this retail sub sector registered a decrease of 2 percent in comparison to the corresponding period of the previous year (2011). Year-on-year, sales of pharmaceutical and medical goods, cosmetics articles and second hand products as well as those of mail order services providers continued to increase.
Family-friendly Workplace awards handed over
Ministry for National Economy, January 21, 2013 3:13 PM
Twenty-three out of altogether ninety applications were bestowed the Family-friendly Workplace 2012 title. The awards were handed over in Budapest on Friday.
Manufacturing industry orders increased significantly despite slight decline in production
Ministry for National Economy, January 16, 2013 3:57 PM
As a positive development, the overall number of new orders at manufacturing industry enterprises increased impressively, by 45.7 percent. However, seasonally and workday-adjusted industrial production declined by 0.1 percent in November 2012 compared to the previous month. In comparison to November 2011 both unadjusted and workday-adjusted statistics signal that industrial output decreased by 6.9 percent which figure was also due to a high basis reading. Decrease, however, was even larger in Italy (7.6 percent) and Spain (7.2 percent), and among our regional peers the Czech Republic registered a similar volume decline of 6.2 percent.
Renewed speculation against the forint
Ministry for National Economy, January 16, 2013 11:00 AM
On Tuesday last week Nouriel Roubini, one of the world’s most influential financial analysts sent to clients the following investment recommendation in his regular newsletter: “Until Hungary signs a new deal with the IMF we recommend to short the forint." Thus he signalled that investors should bet on a weakening forint.
Government to motivate capital investments
Ministry for National Economy, January 15, 2013 3:51 PM
In order to stimulate growth, the Government aims to motivate capital investments, Minister of State for Taxation and Financial Affairs Gyula Pleschinger said at an economic conference held in Vienna on Tuesday.
Strategic Partnership Agreement with IBM
Ministry for National Economy, January 11, 2013 2:14 PM
The Government of Hungary and IBM Hungary Kft concluded a strategic agreement on Friday; the document was signed in Budapest by Minister of State at the Ministry for National Economy Zoltán Cséfalvay and Director General Zsolt Veres of IBM Hungary.
Tripartite Seminar on Youth Employment
Ministry for National Economy, January 9, 2013 1:08 PM
The Hungarian Ministry for National Economy is organizing a tripartite seminar together with the International Labour Organization (ILO) on 11 January 2013 in Budapest, Hungary, to examine the challenges of labour market integration of young people and to present measures aiming to improve their employment situation.
The state of the central sub sector of the state budget in December 2012
Ministry for National Economy, January 8, 2013 6:13 PM
Key features of financial processes regarding the central sub sector of the state budget in December 2012 and preliminary data for the year have been published today.
Another Positive Employment Figure
Ministry for National Economy, January 4, 2013 11:53 AM
According to this morning's information summary from the Central Statistical Office (KSH), positive trends are continuing with regard to employment figures, which play a determining role in government policy.