Ministry for National Economy
News
Next year’s budget is a budget of progress
Ministry for National Economy, December 17, 2013 2:44 PM
According to Minister for National economy Mihály Varga who spoke at a press conference held after the Budget had been adopted by Hungary’s Parliament, the 2014 budget is a budget of progress as it will facilitate growth.
EIB credit facility of altogether EUR 150 million secured
Ministry for National Economy, December 16, 2013 9:28 AM
The European Investment Bank (EIB) provides a credit facility of EUR 50 million and EUR 100 million for the State of Hungary and the Hungarian Export-Import Bank Ltd. (Eximbank), respectively, for the modernization of state administration and for supporting export activities of Hungarian SMEs.
Hungarian industrial performance among the best in the European Union
Ministry for National Economy, December 16, 2013 9:26 AM
In October 2013, industrial output increased by 6 percent in comparison to the corresponding period of the previous year, and thus Hungary achieved the third largest increase within the EU.
HANtech Ltd completes investment project of HUF 240 million
Ministry for National Economy, December 12, 2013 3:27 PM
HANtech Ltd of Csorna, a producer of agricultural machinery and equipment, finalized a technological investment project valued at HUF 240 million, for which the company had obtained state funding of more than HUF 80 million.
Economic growth is not restricted only to some sectors
Ministry for National Economy, December 12, 2013 3:20 PM
Having decreased general government deficit has not stifled economic growth in Hungary, as an adequate economic policy mix had been applied. Thanks to this, the recent pick-up of the Hungarian economy has been broad-based and not limited only to a few sectors, Deputy State Secretary for the Budget Péter Benő Banai said at a press conference in Budapest.
Johnson Electric is expanding output capacity in Ózd
Ministry for National Economy, December 11, 2013 9:44 AM
Within the framework of an investment project valued at more than HUF 320 million, Johnson Electric Ózd Ltd has boosted the production capacity of car industry components.
The Visegrád Four adopted a joint statement on enhanced collaboration within the European Research Area
Ministry for National Economy, December 10, 2013 9:40 AM
The four countries’ ministers responsible for research, development and innovation signed a joint statement on enhanced collaboration among the Visegrád countries within the ERA after a session of coordination, organized by the Hungarian presidency, was completed in Budapest.
The Hungarian state drew EUR 34.1 million as extra funding from the transaction of Richter exchangeable bonds
Ministry for National Economy, December 9, 2013 5:08 PM
At the joint press conference organized by the Ministry for National Economy, the Hungarian National Asset Management Inc. and Gedeon Richter Plc., Minister of State for Taxation and Financial Affairs Gábor Orbán said that through the assistance of the Hungarian National Asset Management Inc. the Government repurchased all outstanding Richter exchangeable bonds with nominal value of EUR 833.3 million due 2014 and the Asset Management Inc. concurrently issued new Richter bonds due 2019 exchangeable into the company’s shares, totalling EUR 903.8 million.
General government surplus HUF 11.3bn in November
Ministry for National Economy, December 9, 2013 4:00 PM
In the month of November 2013, the central sub sector of the state budget registered a monthly surplus of HUF 11.3bn. The end-of-November cash flow data on the general government budget are in line with the Government’s expectations. Revenues and expenditures projected for this month and next confirm that the deficit target of below 3 percent for the entire year will be achieved.
MoU on new Frauenhofer project centre signed in Berlin
Ministry for National Economy, December 7, 2013 7:57 AM
In Berlin, a Memorandum of Understanding on establishing a new project centre in Hungary was signed by the largest European applied research institution, the Germany-based Frauenhofer Institute for Open Communications (FOKUS), the Budapest University of Technology and Economics as well as representatives of the governments of the two countries.
One hundred thousand people embarked on learning courses in the winter phase of the public work programme
Ministry for National Economy, December 6, 2013 3:46 PM
At the beginning of December, the transitory winter scheme of the Government’s public work programme engaged one hundred thousand people in learning courses, which figure is expected to increase to 200 thousand on average until 31 March 2014, Minister of State for Employment Sándor Czomba said at a press conference in Budapest.
Investing in Hungary is worth it
Ministry for National Economy, December 6, 2013 11:26 AM
On visiting the Budapest Stock Exchange to celebrate the launching of the Xetra trading system, Minister for National Economy Mihály Varga said that as parallel to the economic rebound the profit outlook is also improving it is worth investing in the Hungarian economy.
Zoltán Cséfalvay: start-ups are the future!
Ministry for National Economy, December 6, 2013 10:01 AM
Minister of State for Parliament and Economic Strategy Zoltán Cséfalvay stated at a conference organized by economic news website Napi.hu that start-ups will be the catalysts of economic growth.
Concluding partnership agreements was a good Government decision
Ministry for National Economy, December 6, 2013 9:36 AM
Last year’s Government decision which elevated partnership between the Government and large companies operating in Hungary to a new level was right, Mihály Varga stated at the ceremony for signing a Strategic Partnership Agreement between Scheider Electric and the Government of Hungary at the French company’s logistics centre in Szigetszentmiklós.
Inflation for the whole year expected to remain below 2 percent
Ministry for National Economy, December 5, 2013 2:13 PM
It has been 38 years since the inflation rate was this low, as consumer price increase for the entire year will be below 2 percent. According to the prognosis of the Ministry for National Economy, inflation will also remain benign in the coming years, Minister of State for Taxation Gábor Orbán said at a press conference.
10 percent of EU funds to be allocated to R&D
Ministry for National Economy, December 5, 2013 12:15 PM
In 2014-2020, 10 percent or some HUF 700bn of EU funding will be directly devoted to research and development, Minister of State Zoltán Cséfalvay said at the innovation conference of the Hungarian Chamber of Commerce and Industry in Budapest.
2013: the year of positive U-turn for Hungary
Ministry for National Economy, December 5, 2013 11:01 AM
This year was the year of trend reversal for the Hungarian economy: while at the beginning of the year the economy was still mired in recession, the third quarter brought growth above prior expectations and this gives reason to be optimistic with regard to 2014, Minister for National Economy Mihály Varga said in a speech marking the year-end session of Hungary’s Joint Venture Association held at the KOGART House.
Mihály Varga hopes to see more rate cuts
Ministry for National Economy, December 4, 2013 11:15 AM
The Minister for National Economy Mihály Varga said at a presentation held at the Óbuda University, he hopes that “there will be room for more rate cuts; it is a possibility given the historic low level of inflation.”
Hungarian economic growth of 1.8 percent beats preliminary figure
Ministry for National Economy, December 4, 2013 11:14 AM
In the third quarter of 2013, according to unadjusted data Hungary’s year-on-year GDP growth was 1.8 percent, higher than the preliminary figure, while GDP was up by 1.6 percent on the basis of data adjusted for seasonal and calendar effects. Quarter-on-quarter, GDP increased by 0.9 percent. Thanks to the Government’s economic policy, the Hungarian economy has entered a steady growth path.
Retail sales up by 2.5 percent
Ministry for National Economy, December 4, 2013 10:39 AM
The upward trend of retail sales growth, in place for several months, continued in October, as the sector expanded by 2.5 percent year-on-year. Besides the increase, which was the highest in six months, over the past period some other outstanding results were achieved such as constantly rebounding foreign trade, growing investment, GDP growth of 1.7 percent in the third quarter, better-than-expected industrial and construction sector data as well as record-breaking employment figures.
Foreign trade surplus at a two-and-a-half year high
Ministry for National Economy, December 3, 2013 3:34 PM
In September 2013, Hungary’s foreign trade turnover continued to gain momentum: exports and imports soared by 12.7 percent and 11.7 percent, respectively, in comparison to the corresponding period of the previous year.
The latest additions to the Government’s family support policy
Ministry for National Economy, December 3, 2013 8:25 AM
It is the Government’s priority to support families. To this end, new measures have been introduced in the past month, which aim to support families with children. With these steps, the Government aims to encourage Hungarians to have more children and mothers to have more children within a shorter period of time.
The new baby bond is another helpful instrument for those who raise children
Ministry for National Economy, December 2, 2013 3:17 PM
The renewed Baby bond, which can be purchased as of today, is another financial tool for assisting parents in bringing up their children, Minister for National Economy Mihály Varga said.
A period of development expected for Hungary
Ministry for National Economy, December 2, 2013 1:15 PM
The coming period is a period of development, as the Government plans to allocate some 10 percent – about HUF 700bn -- of EU funding within the 2014-2020 fiscal period to research and development, Minister of State for Parliament Zoltán Cséfalvay said at a business lunch where representatives of the Swiss-Hungarian Chamber of Commerce, the Hungarian-French Chamber of Commerce and Industry, Italy’s Chamber of Commerce in Hungary and the British Chamber of Commerce in Hungary participated.
The number of women in employment increased further this year
Ministry for National Economy, December 2, 2013 9:26 AM
According to Ministerial Commissioner Piroska Szalai, who is responsible for improving the employment prospects of women, the number of women in employment will increase this year.