Ministry for National Economy
News
Investment increase breaks record of almost 10 years
Ministry for National Economy, November 29, 2013 10:39 AM
In the third quarter of this year, the volume of investment increased by 9.8 percent, a figure unseen since 2004. The fact that the majority of sectors within the national economy contributed to this growth signals steady and sound future expansion for the Hungarian economy.
Mihály Varga: Hungary’s economy is strengthening
Ministry for National Economy, November 29, 2013 9:59 AM
The Government has concluded a Strategic Partnership Agreement with the Switzerland-based Phoenix Mecano Ltd, a producer of machinery and industrial electronic systems and components. At the signing ceremony held at the company’s Hungarian headquarters in Kecskemét, Minister for National Economy Mihály Varga said that processes currently arising in Hungary signal that the economy has been gaining speed.
Job prospects better for young people with work experience
Ministry for National Economy, November 28, 2013 2:55 PM
At a conference organized for representing a project on studying youth unemployment which was completed by the Office for the Commissioner for Fundamental Rights, the Commissioner László Székely said that the proportion of unemployed young people in Europe has been increasing at an alarming speed.
South Korean companies are planning further investment projects in Hungary
Ministry for National Economy, November 28, 2013 1:36 PM
Korean companies have been satisfied with existing Hungarian investment projects and they are planning some new ones, as meetings held in Seoul by Minister for National Economy Mihály Varga and Korean economic stakeholders revealed.
General government deficit to stay below 3 percent next year
Ministry for National Economy, November 28, 2013 10:25 AM
On 26 November 2013, the National Assembly adopted the key figures of the budget with total revenues of HUF 15 983.7bn and expenditures of HUF 16 968.3bn.
Her-Csi-Hús Ltd expands further
Ministry for National Economy, November 28, 2013 10:22 AM
Minister of State for Employment Sándor Czomba visited the production hall of Her-Csi-Hús Ltd in Hernád, Pest County.
Hungarian economic and employment policy capable of achieving „miracle”
Ministry for National Economy, November 27, 2013 5:10 PM
At a press conference today Minister of State for Employment Policy Sándor Czomba stated that the latest employment figures in Hungary are encouraging, since the numbers are approaching four million, the highest level since 1992.
General government debt to decrease further next year
Ministry for National Economy, November 27, 2013 2:43 PM
The budget bill for next year is in line with the Government’s key objectives formulated in 2010 which aim to improve employment, cut general government debt, keep the level of government budget deficit below 3 percent – in other words, to pursue a sustainable and stable fiscal policy, Deputy State Secretary Péter Benő Banai stated at a three-day conference on municipal fiscal and taxation affairs held in Eger.
Employment hits new record
Ministry for National Economy, November 27, 2013 11:48 AM
The number of people in employment increased again in Hungary, by 57 400, in August-October 2013 in comparison to the same period in 2012, the Hungarian Central Statistical Office (KSH) stated in a flash report published earlier today.
New regulation on credit institutions to bring balanced and client-friendly services
Ministry for National Economy, November 27, 2013 10:50 AM
The new act on credit institutions aims to maintain the security and stability of the financial sector and it will result in balanced and client-friendly services and operation for financial institutions, Minister of State Gábor Orbán said at Hungary’s National Assembly.
EU Horizon programme receives 30 percent extra funding
Ministry for National Economy, November 26, 2013 5:00 PM
"30 percent more, a total of 70 billion euros in funding will be available for innovation during the 2014-2020 European Union financing period under the auspices of the Horizon 2020 Framework Programme for Research and Development", the Ministry of National Economy's Parliamentary State Secretary announced at a press conference in Budapest on Tuesday.
GKI Economic Sentiment Index indicates growing confidence in Hungary's economy
Ministry for National Economy, November 26, 2013 4:59 PM
According to the Ministry of National Economy's standpoint, the continuous improvement in GKI research institute’s economic confidence index supports the expectations that the growth that began this year will prove to be permanent.
200,000 people are taking part in the winter public work programme
Ministry for National Economy, November 26, 2013 3:30 PM
"Two-hundred thousand people are taking part in the winter public work programme launched at the beginning of November, of whom one-hundred thousand are participating in further education", the Ministry of National Economy's Minister of State for Employment Policy announced on Tuesday in Ozora, Central Hungary.
Strengthening Economic Relations with South Korea
Ministry for National Economy, November 25, 2013 2:47 PM
During the course of his three-day official visit to South Korea, Minister of National Economy Mihály Varga will be holding negotiations with Minister of Trade, Industry and Energy Yoon Sang-jick, Minister of Strategy and Finance Hyun Oh-seok and with Bank of Korea Governor Kim Choong-Soo.
The increased role of women in the economy is a question of competitiveness
Ministry for National Economy, November 25, 2013 2:45 PM
"The resources of women, who constitute half of society, must be managed efficiently, because then the economy will become even more successful.
Austrian companies get to know Hungarian investment opportunities
Ministry for National Economy, November 22, 2013 1:06 PM
Deputy State Secretary for External Economic Relations Antal Nikoletti outlined the economic policy strategy of the Hungarian Government and its recent achievements at the Austrian-Hungarian Economic Forum held in the building of the Hungarian Embassy in Vienna.
The flat-rate personal income tax system is a key driver of economic growth
Ministry for National Economy, November 22, 2013 1:03 PM
The flat-rate personal income tax system has been a key growth-boosting factor, as thanks to the comprehensive income tax reform it is again worth creating and taking up jobs in Hungary, and thus there is a window of opportunity for escaping unemployment, economic slump and demographic crisis, Minister of State for Taxation and Financial Affairs Gábor Orbán said at a press conference in Budapest.
Wages in real terms up by almost 5 percent year/year
Ministry for National Economy, November 20, 2013 12:22 PM
In the month of September, wages in real terms increased by 4.9 percent in comparison to September 2012, and thus the purchasing power of wages have been on the rise for the ninth month in a row, an indicator of the success of the Government’s economic policy.
Scope of tax allowance related to the employment of parents with small children to be extended as of January
Ministry for National Economy, November 20, 2013 11:36 AM
As Minister of State for Employment Sándor Czomba said at a press conference, as of 1 January 2014 the scope of tax incentives related to the employment of parents with small children will be extended while existing allowances are kept in place within the framework of the “parental benefit extra” programme.
HUF 140bn to be allocated to start-up programmes in next EU fiscal period
Ministry for National Economy, November 20, 2013 11:35 AM
In the coming EU fiscal period, the Government plans to spend some HUF 140bn from EU and domestic resources on programmes aimed at bolstering the Hungarian start-up sector, Minister of State for Economic Strategy Zoltán Cséfalvay said at the conference titled “Young Entrepreneurship Week”.
EBRD President held talks in Budapest
Ministry for National Economy, November 19, 2013 10:58 AM
President of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarti met with Minister for National Economy Mihály Varga in Hungary.
In the focus of tourism policy: thermal spring waters and energy efficiency
Ministry for National Economy, November 18, 2013 4:09 PM
Deputy State Secretary for Tourism Dr Viktória Horváth held a presentation at a professional conference on the key development priorities of Hungarian health tourism and the National Tourism Development Concept (2012-2024) which is currently under social consultation. The Government plans to increase by 2024 the share of the tourism sector within Hungary’s GDP to as much as 10 percent.
Domestic industry posts outstanding growth
Ministry for National Economy, November 15, 2013 11:53 AM
The multi-month upward trend of Hungary’s industrial production continued in September this year: in comparison to the corresponding period of 2012, industrial output increased by 5.5 percent. In light of data adjusted for seasonal and calendar effects, the sector grew by 1.8 percent compared to August. As a result of the Government’s reindustrialization policy, Hungary is also among the top performers within the European Union.
Iron-Tech Ltd of Szigetvár has new production site
Ministry for National Economy, November 15, 2013 10:34 AM
The Szigetvár-based metalworking company Iron-Tech Ltd has completed a new production facility within the framework of a partly state-funded investment project worth HUF 450 million. The site was opened by Minister of State for Employment Sándor Czomba.
Hungarian economic performance beats expectations
Ministry for National Economy, November 14, 2013 11:03 AM
According to preliminary data by the Hungarian Central Statistical Office (KSH), in the third quarter of 2013 – well above prior analyst estimates – Hungary’s economy expanded by 1.7 percent year-on-year. In light of data adjusted for seasonal and calendar effects, annual growth totalled 1.6 percent. In light of statistics of diverse fields, economic growth has been based on an increasingly sound structure.