Ministry for National Economy
News
Hungarian retail trade figures in line with European trends
Ministry for National Economy, December 21, 2012 2:53 PM
In the initial ten months of 2012 the sales volume of food, beverages and tobacco products stagnated year-on-year in an unfavourable global economic climate. In the tenth month of the year, however, this retail sub sector registered a decline of 1.2 percent in comparison to the corresponding period of the previous year. This figure is much more favourable than September data calculated by the same methodology (then contraction amounted to 3.7 percent).
Foreign trade volume increased significantly once again
Ministry for National Economy, December 21, 2012 2:47 PM
According to the latest flash report of the Hungarian Central Statistical Office (KSH), in October 2012 the volume of exports and imports was up by 5.2 percent and 5.6 percent, respectively, in comparison to the corresponding period of the previous year. In the tenth month of the year foreign trade posted a surplus of 182bn HUF (646 million EUR).
Fitch: Hungary’s outlook stable
Ministry for National Economy, December 21, 2012 10:43 AM
Fitch Ratings Services has revised Hungary’s sovereign rating from “negative” to “stable”.
The state of the central sub sector of the state budget in November 2012
Ministry for National Economy, December 20, 2012 11:42 AM
Key data of the central sub sector of the state budget in November 2012 - In the month of November 2012 the central sub sector of the state budget registered a deficit of 33.6bn HUF. Within that, the central state budget, Social Security Funds and extra budgetary state funds registered deficits of 10.1bn HUF, 23.1bn HUF and 0.4bn HUF, respectively. In the month of November 2012 the central sub sector of the state budget posted a surplus of 79.9bn HUF.
Investments worth more than EUR 1.5 billion secured
Ministry for National Economy, December 19, 2012 2:47 PM
Earlier today an agreement has been concluded between the Government of Hungary and the Wanhua Industrial Group of China envisaging that the Wanhua Group will implement long-term, strategic investment projects worth around EUR 1.6 billion in Hungary, expected to create hundreds of jobs in a backward region.
Strategic cooperation agreement concluded between the Government of Hungary and Tesco-Global Stores Zrt
Ministry for National Economy, December 19, 2012 1:57 PM
The agreement was signed by Minister of State at the Ministry for National Economy Zoltán Cséfalvay as representative of the Government and Chief Executive Officer Gerard Gray of Tesco-Global Stores Zrt.
160 000 more people are employed since 2010
Ministry for National Economy, December 18, 2012 5:17 PM
According to the latest data compiled by the Hungarian Central Statistical Office (KSH), in August-October 2012 the number of employed was 3 million 935 thousand, which is 71 thousand more than one year ago and 160 thousand more since 2010.
Foreign currency debt issuance may not be necessary next year
Ministry for National Economy, December 17, 2012 6:01 PM
According to Minister of National Economy György Matolcsy, Hungary may not need to issue foreign currency denominated government securities on international financial markets next year. That was one of the issues the Minister spoke about at the economic programme G7 of Hungary’s public service broadcaster Kossuth Radio on Saturday.
Industrial exports and transport equipment manufacturing output on the rise in the initial ten months of 2012
Ministry for National Economy, December 17, 2012 12:25 PM
According to the release of the Hungarian Central Statistical Office published earlier this morning, output increased in nine sub sectors of the manufacturing industry: out of significant sub sectors transport equipment output was up by 7.7 percent, and the third largest sub sector, the production of food, beverages and tobacco products increased by 5.6 percent.
Hungarian economy to expand next year
Ministry for National Economy, December 11, 2012 9:37 AM
According to György Matolcsy, the Hungarian economy is expected to expand in 2013. This was the key message the Minister for National Economy was emphasizing, speaking at the session of the Parliamentary Budget Committee on Monday, and adding that in 2010-2011 Hungary managed to implement successful financial and economic consolidation.
Strategic agreement signed with GE Lighting Europe
Ministry for National Economy, December 10, 2012 6:17 PM
On Monday, the Hungarian Government signed a strategic partnership agreement with General Electric (GE) Hungary.
Hungarian economic growth index improves second month in row, latest OECD report says
Ministry for National Economy, December 10, 2012 5:52 PM
Hungary's economy has passed its economic growth nadir, the OECD's latest report on Hungary's economic cycles said.
GDP data in line with expectations
Ministry for National Economy, December 7, 2012 11:06 AM
According to the final estimate of the Hungarian Central Statistical Office, in the third quarter of 2012 gross domestic product, as formerly anticipated, declined in Hungary by 1.5 percent in comparison to the corresponding period of the previous year; compared to the previous quarter the contraction was 0.2 percent. Regarding the initial three quarters of the year, the economy posted negative growth of 1.3 percent in comparison to the same period of 2011. The entire European economy has been facing tough challenges and that is aptly reflected by international data which signal that the EU’s GDP declined by 0.4 percent.
Agreement concluded between the Vice President of the European Investment Bank and the Minister for National Economy
Ministry for National Economy, December 6, 2012 5:46 PM
Minister for National Economy György Matolcsy and EIB Vice President Wilhelm Molterer have signed two project financing contracts amounting altogether to 560 million EUR to support the Hungarian economy.
Successful fund-raising of Eximbank
Ministry for National Economy, December 6, 2012 5:43 PM
The Ministry for National Economy as majority shareholder welcomes the first, successfully concluded phase of the bond issuance programme of the Hungarian Export-Import Bank Zrt. (Eximbank).
Minister of State Cséfalvay: more than half of EU resources shall be spent on economic development
Ministry for National Economy, December 4, 2012 4:46 PM
At least half of EU 2014-2020 development funds must be applied to direct economic development in general, and to the stimulation of the development of small and medium-sized enterprises in particular, as opposed to the 16 percent in the seven-year period ending now, said Minister of State at the Ministry for National Economy Zoltán Cséfalvay at a conference on Tuesday.
Minister of State Cséfalvay: Hungarian economic policy conforms to EU standards
Ministry for National Economy, December 3, 2012 3:44 PM
The economic policy of the Hungarian Government is in accordance with priorities defined by the European Union, and some of their recommendations have already been implemented due to Government measures, Minister of State for Economic Policy at the Ministry for National Economy Zoltán Cséfalvay said at the Monday session of the Parliament’s Committee on European Affairs.
Minister of State Cséfalvay: EU funds must be used efficiently
Ministry for National Economy, December 1, 2012 12:48 PM
The optimal application of EU resources for Hungary and their utilization to enhance growth were identified as key tasks by Minister of State for Economic Strategy at the Ministry for National Economy Zoltán Cséfalvay at an international conference on European growth prospects in Budapest organized by the European Commission Representation in Hungary on Friday.
Foreign trade recorded a significant accumulated surplus by September
Ministry for National Economy, November 30, 2012 3:04 PM
According to the latest flash report of the Hungarian Central Statistical Office (KSH), foreign trade had a positive balance of 215bn HUF in September 2012. In the initial nine months of the year the volume of exports increased by 2.1 percent and that of imports slightly less by 0.7 percent in comparison to the corresponding period of the previous year. In the period January-September 2012 total foreign trade surplus amounted to 1 578bn HUF.
National Innovation Strategy may be presented to the Government in January
Ministry for National Economy, November 29, 2012 4:23 PM
After having completed a national consultation forum the Government may discuss the National Research, Development and Innovation Strategy - Minister of State for Economic Strategy and Parliamentary Affairs Zoltán Cséfalvay from the Ministry for National Economy announced on Thursday at a conference in Szeged.
Manufacturing investment growth resuming
Ministry for National Economy, November 29, 2012 12:06 PM
In the third quarter of 2012, manufacturing sector investments which constitute more than 30 percent of total Hungarian investments could pick up steam again, due primarily to impressive performance in sub sectors of significant weight. In the third quarter manufacturing sector investments increased by 3.8 percent year-on-year.
Summary of tax amendments adopted at Parliament’ autumn session
Ministry for National Economy, November 28, 2012 2:21 PM
In the focal point of taxation policy: securing financial balance, acknowledging aspiring entrepreneurs and reducing the proportion of income taxes while increasing the role of consumption and turnover taxes.
Memorandum of Understanding concluded with the World Bank
Ministry for National Economy, November 28, 2012 2:07 PM
On 27 November 2012 Minister of State at the Ministry for National Economy Gyula Pleschinger signed a Memorandum of Understanding with Peter Harrold, the World Bank’s Country Director for Central Europe and the Baltic Countries.
Minister Matolcsy in Berlin strengthening economic ties with Germany
Ministry for National Economy, November 28, 2012 2:05 PM
Today Minister for National Economy György Matolcsy leads negotiations on current economic policy issues and German-Hungarian economic relationships in Berlin.
Efficient application of EU funds is in Hungary’s interest
Ministry for National Economy, November 27, 2012 1:22 PM
It is in Hungary’s best interest to utilize European Union development funds efficiently and invest a large part of them in economic development between 2014 and 2020, Minister of State at the Ministry for National Economy stressed at a Budapest press conference held on the occasion of his appointment as EU chief negotiator on Monday. He added, conclusions need to be drawn from the period 2007-2013 and in the next development cycle EU fund application shall be more targeted, less piecemeal and the entire process shall be supported by a more efficient institutional background.