Ministry for National Economy
News
Impressive and balanced Hungarian economic growth in Q4 2013
Ministry for National Economy, March 5, 2014 12:08 PM
In light of the latest data published by the Hungarian Central Statistical Office (KSH), it can be concluded that growth has rebounded in each and every economic sector in Hungary. In comparison to the corresponding period of the previous year, GDP gained 2.7 percent, a growth rate unmatched in the past eight years. In the entire year of 2013, the Hungarian economy expanded by 1.2 percent.
Hungary closed last year with a larger foreign trade volume and surplus
Ministry for National Economy, March 5, 2014 10:53 AM
Hungary’s foreign trade posted a surplus of EUR 7bn last year, up by EUR 354 million in comparison to 2012. Accordingly, the volume of exports continued to exceed that of imports, while a dynamic increase was recorded in the total volume of foreign trade.
Enterprises utilized allowances for 800 thousand employees in January
Ministry for National Economy, March 5, 2014 10:18 AM
In January 2014, the number of employees for whom enterprises utilized allowances was some 800 thousand, up by 50 thousand in comparison to last year, Minister of State for Taxation and Fiscal Regulation Gábor Orbán said at a press conference.
National Instruments constructing a HUF 4bn Science Park in Debrecen
Ministry for National Economy, March 4, 2014 3:45 PM
National Instruments Hungary Ltd (NI) is building a Science Park for some HUF 4bn at their headquarters in Debrecen, for which the enterprise has won EU funding of HUF 1.9bn through a New Széchenyi Plan tender, NI CEO László Ábrahám said at the topping out ceremony of the project. As the CEO stressed, some 300 people, mostly research and development engineers, are planned to be employed at the 6000sqm Science Park.
Millenáris Széllkapu idea competition inspired also non-professionals
Ministry for National Economy, March 4, 2014 12:32 PM
Almost half of applications submitted to the Millenáris Széllkapu idea competition, which awaited entries on the potential functions of a public park to be created on the area where the soon-to-be-demolished building of the former Ministry of Industry can still be found on Margit Avenue, came from people who are not architects, Minister for National Economy Mihály Varga said at the ceremony for presenting the awards for winners of the project.
Investment growth best in a decade
Ministry for National Economy, March 3, 2014 2:43 PM
According to the latest data by the Hungarian Central Statistical Office (KSH), in the last quarter of 2014 the volume of investments increased by 14.9 percent year-on-year. It has been since the first quarter of 2004, almost ten years ago, that a larger growth figure was recorded.
„TiJöttök” (YourTurn) programme concluded successfully
Ministry for National Economy, February 28, 2014 2:16 PM
The successful “TiJöttök” programme, under which more than 2500 secondary school pupils had the opportunity to get to know options offered by a career in the field of technical or natural sciences over the past one year, has now been closed, said Minister of State Zoltán Cséfalvay at a press conference held in Budapest.
The international tourism exhibition “Travel 2014” opened in Budapest
Ministry for National Economy, February 27, 2014 3:01 PM
The tourism fair was opened at the Budapest Fair Center by Minister of State for Economic Planning Coordination István Komoróczki, who in his welcome speech pointed out that tourism traffic in Hungary hit a new record high last year, as – according to preliminary data – in 2013 8.8 million guests spent 22.8 million nights in the country.
4 million 30 thousand people already in employment; unemployment rate below 9 percent
Ministry for National Economy, February 26, 2014 10:58 AM
According to the latest data by the Hungarian Central Statistical Office (KSH), in November 2013-January 2014 the number of people in employment aged 15-74 years increased by 176 thousand year-on-year, from 3 million 854 thousand to 4 million 30 thousand. Accordingly, the employment rate improved to 52.9 percent, a new historic high. Over the past four years, the number of those in employment has been up by 280 thousand. Along with the effect of public work schemes, in light of relevant, formerly published KSH data the private sector has been increasingly driving growth. The unemployment rate is at a five-year low of 8.9 percent.
European Commission more optimistic about Hungarian growth prospects
Ministry for National Economy, February 26, 2014 9:44 AM
In the European Economic Forecast Winter 2014 published yesterday, the European Commission forecasts an improved growth outlook for the Hungarian economy. The Commission estimates the fiscal shortfall for 2013 to be significantly lower than the Government’s target. For 2014-2015, the Forecast prognosticates that the deficit will not be above 3 percent of GDP. This European Commission report confirms that the Government has set realistic objectives.
Last year’s employment growth indicates of Job Protection Action Plan success
Ministry for National Economy, February 25, 2014 8:38 AM
Ministerial Commissioner Piroska Szalai, responsible for improving the labour market prospects of women, said at a press conference in Budapest that employment growth registered among both men and women in 2013 is the result of a successful Job Protection Action Plan.
Mihály Varga: „We belong again to Europe’s economic top league”
Ministry for National Economy, February 24, 2014 2:34 PM
In his speech delivered at the opening in Soltvadkert of a production facility of Material Plastik Ltd, an enterprise fully owned by Hungarians, Minister for National Economy Mihály Varga said that Hungary has been back among the best performers in Europe and we are regaining the position the country lost in 2002.
Wages in real terms up by 3 percent last year
Ministry for National Economy, February 21, 2014 11:44 AM
According to the flash report of the Hungarian Central Statistical Office (KSH), in January-December 2013 average gross and net wages increased by 3.4 percent and 4.9 percent, respectively, in comparison to data compiled one year ago.
Waberer's-Szemerey Logisztika Ltd relocates to Miskolc
Ministry for National Economy, February 21, 2014 9:45 AM
At the new Miskolc headquarters of Waberer's-Szemerey Logisztika Ltd, a road transport and storage services company, one hundred new jobs will be created as an investment valued at HUF 3bn was completed and the new facility was ceremonially opened yesterday.
Kazakhstan aims to become the logistics hub of the region
Ministry for National Economy, February 20, 2014 3:45 PM
Kazakhstan’s social and economic development strategy, projected to cover the coming years until 2050, aims to turn the country into the logistics hub of the Central Asian region, complete with related infrastructure, Ambassador of Kazakhstan HE Galimzhan Amirov said at a logistics conference on bilateral relations held in Budapest.
Hungarian exports constitute already 95 percent of GDP
Ministry for National Economy, February 19, 2014 10:48 AM
Hungarian exports make up 95 percent of GDP, a figure that places the country in the top slot together with Slovakia in Central and Eastern Europe, while it is ranked 4th-5th among the 28 member states of the EU, Minister of State Zoltán Cséfalvay said at press conference jointly organized by the Ministry for National Economy and Eximbank.
More than 1500 people receive housing allowances
Ministry for National Economy, February 18, 2014 2:41 PM
Since the launching of the programme, more than 1500 people have received housing allowance provided for people whose workplace is at a large distance from their permanent residence, Minister of State for Employment Affairs Sándor Czomba said at a press conference.
Minister Varga hopes forint to get stronger
Ministry for National Economy, February 18, 2014 10:55 AM
The Minister for National Economy is not satisfied with a weak forint, as the budget was planned with an exchange rate below the 300 EUR/HUF level, and he believes that forint will appreciate, Mihály Varga said on “Mokka”, the morning show of public broadcaster TV2.
HUF 110bn to be allocated for R&D infrastructure in 2014-2020
Ministry for National Economy, February 17, 2014 4:05 PM
In the EU development period 2014-2020, Hungary will spend HUF 110bn on improving research and development infrastructure, through -- for example -- the purchasing of special equipment, Minister of State Zoltán Cséfalvay said at a press conference organized to present the expansion of NEKIFUT project.
GDP data above expectations and employment data the best in 20 years
Ministry for National Economy, February 17, 2014 2:38 PM
The Hungarian economy is back on a growth path where -- along with exports -- domestic demand and consumption have increasingly been driving economic expansion, Minister for National Economy Mihály Varga said on public service television programme “Az Este”. He added that this achievement can be attributed to several factors, such as public utility tariff cuts, family tax allowance as well as the wage hike of healthcare sector employees and teachers.
Highest GDP growth in seven years
Ministry for National Economy, February 14, 2014 1:20 PM
Hungary's GDP growth in the fourth quarter of 2013 accelerated to 2.7 percent from 1.8 percent in the previous quarter, the Central Statistical Office (KSH) said on Friday. Speaking at a press conference late in the morning, Minister of National Economy Mihály Varga said the structure of growth had become more balanced and more sustainable. Following the announcement the forint strengthened against the euro, to trade at 309.20 on interbank market.
Hungary to become for Chinese tourists the gate to CEE region
Ministry for National Economy, February 13, 2014 1:55 PM
China has picked Hungary as tourism hub for coordinating cooperation with Central and Eastern European countries. The Ministry for National Economy and the China National Tourism Administration (CNTA) concluded a Memorandum of Understanding (MoU) aiming to foster Hungarian and Chinese tourism relations, through which process Hungary will gain more weight regarding tourism in the CEE region.
Government to submit Partnership Agreement to the EU at the end of February
Ministry for National Economy, February 12, 2014 2:18 PM
The Government will next week finalize the Partnership Agreement, the framework for the allocation of EU funds in the period 2014-2020, and submit the document officially at the end of February to the European Commission, Minister of State for Economic Strategy Zoltán Cséfalvay told MTI, adding that the first tender invitations are expected to be announced in the second half of this year.
Hungary’s industrial output up by 1.4 percent last year
Ministry for National Economy, February 12, 2014 1:44 PM
The Government’s active industrial policy has been bearing fruits: according to the latest data of the Hungarian Central Statistical Office (KSH), Hungary’s industrial output increased by 1.4 percent compared to 2012, while year-on-year it was up by 6.8 percent in December last year.
Strategic Partnership Agreements add to economic growth
Ministry for National Economy, February 11, 2014 2:41 PM
Following a period of falling investment over the past 5-6 years, last year there was a positive U-turn in this field and data show growth of some 10 percent in the third quarter of last year, Minister of State for Economic Regulation Kristóf Szatmáry said at a press conference in Budapest.