Ministry for National Economy
News
Slight decline of industrial output in the initial four months of the year
Ministry for National Economy, June 15, 2012 10:37 AM
In the initial four months of 2012 the volume of industrial production declined by 0.8 percent in comparison to the same period of the previous year, while in the fourth month of the year the decline of output volume was 3.1 percent according to both unadjusted and workday-adjusted statistics. Seasonally and workday-adjusted data on a monthly basis signal a decline of 2.4 percent in the observed period. It is a positive sign however that there was substantial increase in total new orders of the manufacturing industry on an annualized basis. In addition, the already apparent positive impact of the opening of Mercedes plant indicates a brighter future with regard to industrial production.
Agreement concluded between the vice president of the European Investment Bank and the minister for national economy
Ministry for National Economy, June 14, 2012 4:22 PM
On 14 June 2012 Mr. György Matolcsy, Minister for National Economy, signed in Budapest a project finance contract of 63 million EUR with the Vice President of the European Investment Bank (EIB), Mr. Wilhelm Molterer.
Letter to the Economist
Ministry for National Economy, June 12, 2012 2:29 PM
You might have chosen the wrong version of your article on Hungary (Sickness on the Danube, 9th June 2012, Budapest). We would like to offer you the right article based on solid data and hard facts. Hungary is one of the looming success stories of the emerging new European Rim called Central-Europe.
Hotelstars.hu is a national trademark
Ministry for National Economy, June 12, 2012 12:01 PM
In order to improve the quality of domestic tourism, the Ministry for National Economy and the Hungarian Hotel and Restaurant Association have signed earlier today a Cooperation Agreement. From 1 July 2012 the classification of hotels is based on the Hotelstars.hu trademark as the national trademark for domestic accommodations.
GDP data in line with prior estimates
Ministry for National Economy, June 8, 2012 9:44 AM
The Hungarian Central Statistical Office (KSH) has published earlier today GDP data in line with preliminary figures in its detailed release. In Q1 2012 the Hungarian economy – due primarily to negative external market developments – contracted by 0.7 percent.
Opening to the East: Agreement between China and Hungary in employment issues
Ministry for National Economy, June 7, 2012 5:14 PM
Wang Xiaochu, Deputy Minister at the Human Resources and Social Insurance Ministry of the People’s Republic of China, has paid a visit to the Ministry of National Economy earlier today, where he met with Sándor Czomba, Minister of State for Employment.
More than 4 thousand new jobs to be created at SMEs
Ministry for National Economy, June 5, 2012 2:23 PM
In February the Ministry for National Economy invited tenders from micro-, small and medium sized enterprises aimed at creating new jobs.
Career starters to get more jobs
Ministry for National Economy, June 1, 2012 12:02 PM
Although the number of employed increased by 80 000 altogether in the past two years in Hungary, in several labour market segments further apt measures are required in order to reach EU average figures.
Foreign trade volume increased in the first quarter
Ministry for National Economy, June 1, 2012 9:53 AM
In Q1 2012 the volume of exports increased by 1.6 percent and imports grew slightly less, by 0.9 percent, in comparison to the same period of the previous year. Foreign trade balance registered a surplus of 513bn HUF in the initial three months – according to the flash report of the Hungarian Central Statistical Office (KSH) published earlier this morning.
Investments related to significant manufacturing sub sectors increased
Ministry for National Economy, May 31, 2012 11:14 AM
Investments in manufacturing were unchanged in the first quarter in comparison to the same period of the previous year after the outstanding increase of the year 2011, but in certain significant sub sectors there was substantial growth – according to the communication of the Central Statistics Office of Hungary (KSH) published earlier this morning.
Brussels has welcomed the trustworthy economic policy of Hungary
Ministry for National Economy, May 30, 2012 3:57 PM
The Government considers the proposal of the European Commission a great achievement which recommends that at the 20 June session the former verdict of the Economic and Financial Affairs Council (Ecofin) with regard to the temporary suspension of resources from the Cohesion Fund for Hungary be revoked.
This decision is part of the report by the European Commission on the Convergence Programme and the National Reform Programme which were included in Széll Kálmán Plan 2.0.
Employment rate rising steadily in Hungary
Ministry for National Economy, May 30, 2012 11:23 AM
In February-April 2012 the increase of the number of employed, which has been a trend of the past two years, continued in comparison to the same period of the previous year – the Central Statistics Office of Hungary (KSH) reported earlier today. The number of employed among the population aged 15-74 increased significantly by 52 000 from 3 million 759 thousand one year ago to 3 million 811 thousand. Therefore, the rate of employment increased to 49.7 percent. Among the population aged 15-64 the number of employed increased from 3 million 728 thousand one year ago to 3 million 776 thousand, by 48 000. Thereby the rate of employment in this segment has increased to 56.1 percent.
Domestic retail turnover increased significantly in March
Ministry for National Economy, May 24, 2012 11:43 AM
According to the latest flash report of the Central Statistics Office of Hungary, in March 2012 the volume of retail sales were almost 645.2bn HUF and in Q1 2012 they amounted to 1758.7bn HUF in Hungary. Consequently, the volume of retail sales increased by 0.9 percent in comparison to the same period of the previous year. A determining factor of the increase has been sales at food, drinks and tobacco stores which correspond to almost half of total turnover.
Report on the state of the central sub sector of the state budget in April 2012
Ministry for National Economy, May 22, 2012 3:47 PM
In April 2012 the central sub sector of the state budget registered a surplus of 289.3bn HUF. Within that, the central state budget and extrabudgetary state funds registered surpluses of 283.8bn HUF and 11.3bn HUF, respectively, whereas social security funds registered a deficit of 5.8bn HUF. In the month of April in 2011 the surplus of the central sub sector of the state budget was 75.9bn HUF.
The parliament has voted on the telecom services tax
Ministry for National Economy, May 18, 2012 3:51 PM
The next step is taken in order to establish long term fiscal sustainability and reduce general government debt.
Gross average wages increased by 4.4 percent in the first quarter of the year in Hungary
Ministry for National Economy, May 18, 2012 10:17 AM
In Q1 2012 gross average wages of the national economy increased by 4.4 percent, whereas net wages excluding family tax benefits increased by 1.6 percent in comparison to the corresponding period of the previous year – the KSH has reported earlier today in its statistical release.
Adjusted data signal slight improvement in industrial output
Ministry for National Economy, May 15, 2012 10:30 AM
Workday-adjusted industrial output was 0.6 percent higher in March 2012 than the year before, whereas on the basis of seasonally- and workday-adjusted statistics in the third month of the year output was 0.6 percent higher than in the previous month. Unadjusted data signal a decline of 1.6 percent in industrial production. For the future a very positive piece of data is the 17.1 percent year-on-year increase of new orders in the surveyed month.
The Government submitted to parliament the bills on formerly announced tax measures
Ministry for National Economy, May 11, 2012 6:43 PM
Earlier today the government has submitted to the National Assembly the bills about the implementation of the telecom tax, the financial transaction duty and the uniform insurance tax.
Government’s decisions on system of taxes
Ministry for National Economy, May 9, 2012 6:05 PM
The Government has decided to scrap the banking tax and other sectoral crisis taxes; as of the beginning of 2013, one half of the banking tax will be retained in the system, while as of 2014, this tax will be abolished altogether, Minister for National Economy György Matolcsy said on Wednesday at the Government Spokesperson’s press conference.
In Q1 2012 the number of employed increased more than in the previous quarter
Ministry for National Economy, April 27, 2012 12:18 PM
In Q1 2012 the dynamic increase of the number of employed continued in comparison to the corresponding period of the previous year – the Central Statistics Office (KSH) reported in its latest survey. The number of jobs among the population aged 15-74 years increased significantly by 59 000, more than in the previous quarter, from 3 732 thousand the year before to 3 791 thousand. Consequently, the rate of employment rose to 49.5 percent from the 2011 level. The number of employed among the population aged 15-64 increased from 3 701 thousand in the previous year to 3 756 thousand, by 55 000, and the rate employment thereby increased to 55.7 percent.
Turnover of industrial products and foodstuff was higher in February
Ministry for National Economy, April 24, 2012 10:20 AM
According to the latest flash report of the Central Statistics Office (KSH), in the initial two months of 2012 retail sales totaled almost 1115bn HUF in Hungary. The turnover of foodstuff which makes up almost half of sectoral sales (48 percent) increased by the greatest extent in 5 months (1.7 percent) in comparison to the corresponding period of the previous year.
The Széll Kálmán Plan 2.0 has been completed
Ministry for National Economy, April 23, 2012 3:11 PM
With the Széll Kálmán Plan 2.0 Hungary has complied with the requirements of the Council of the European Union, and the excessive deficit procedure related to the country can be resolved after years of failure to meet targets up until last year’s success.
The proceedings in regard to Hungary vs. the European Commission currently ongoing at the European Court of Justice
Ministry for National Economy, April 20, 2012 11:12 AM
In the past couple of days several articles have been published by various newspapers about the legal proceedings between Hungary and the European Commission which were launched because of the financing of VAT expenditures from EU funds. The ministry for National Economy provides the following information about the lawsuit as far as it concerns the budget
Gross wages increased dynamically in Hungary
Ministry for National Economy, April 19, 2012 9:45 AM
In February 2012 average gross wages increased by 6.9 percent in the national economy, while net wages excluding family tax benefits were higher by 3.7 percent in comparison to the corresponding period of the previous year, according to the communication of the Central Statistics Office published earlier this morning.
The Government is committed to resolve all issues raised in the European Commission’s infringement procedure related to the Magyar Nemzeti Bank
Ministry for National Economy, April 18, 2012 2:39 PM
The Hungarian Government is committed to the commencement of the negotiations on a precautionary financial assistance with the EU and the IMF which necessitates the resolution of the issues raised in the infringement procedure related to the Magyar Nemzeti Bank.