Ministry for National Economy
News
The Federation of German Industry supports investment projects in Hungary
Ministry for National Economy, November 13, 2013 8:55 AM
For the Federation of German Industry, every condition is given to encourage German enterprises to invest in Hungary, Federation for German Industry President Ulrich Grillo said earlier today after meeting with Minister for National Economy Mihály Varga.
Charge-free cash withdrawal enacted
Ministry for National Economy, November 12, 2013 11:13 AM
Over the past one year, the costs of banking services have increased significantly and in order to decrease them the National Assembly today adopted an amendment which stipulates the free withdrawal of cash.
Domestic SMEs shall profit best from economic growth
Ministry for National Economy, November 11, 2013 4:39 PM
As a result of the Government measures of the past three years, the Hungarian economy is expected to grow by 2 percent next year, and Hungarian small- and medium-sized enterprises must be the ones to benefit best from that, Minister for National Economy said at a conference in Sarlóspuszta where he met with young economists.
Government supports Dunaferr’s efforts to ensure long-term and stable operation
Ministry for National Economy, November 7, 2013 5:48 PM
Following negotiations with the Ministry of National Economy and trade union representatives, the management of ISD Dunaferr Ltd announced at a press conference in Dunaújváros, a significant decrease in the number of employees to be laid off, from 1500 to 400 people.
General government budget surplus of HUF 61.4bn in October
Ministry for National Economy, November 7, 2013 2:59 PM
The central sub sector of the state budget posted a surplus of HUF 61.4bn in October 2013. The cash-flow data of the central sub sector of the state budget at the end of October are in line with the Government’s prior expectations. Revenues and expenditures anticipates for this and the coming months – including the massive surplus forecast for the month of December – all confirm that this year’s below 3 percent deficit target will be attained.
Improving the competitiveness of SMEs is a key objective
Ministry for National Economy, November 7, 2013 2:29 PM
Minister for National Economy Mihály Varga presented for the third time the “Awards for Successful Enterprises” in the Ministry for National Economy. At the award presentation ceremony, the Minister – speaking about the Government measures designed to assist small- and medium-sized enterprises -- stressed that the Government has prioritized the issue of increasing the share of contribution to the country’s GDP of SMEs; accordingly, the Government aims to add another 15-20 percent to the current figure of 55.2 percent by 2020.
Budapest to become the region’s start-up capital by 2020
Ministry for National Economy, November 6, 2013 5:21 PM
The BudapestHUB working group aims to turn Budapest into the start-up capital of the region by the end of the decade and the Government will act as a catalyst and clear hurdles along the way, Minister of State Zoltán Cséfalvay said.
Government measures for a flexible and family-friendly labour market
Ministry for National Economy, November 6, 2013 2:51 PM
Ministerial Commissioner Piroska Szalai, responsible for improving the labour market prospects of women, held a presentation at the conference entitled “Család” (Family) in Hungary’s Parliament which focused on issues related to the coordination of family and work. At the event, the Commissioner summarised the Government measures aimed at better family-work equilibrium and subsequent achievements.
The European Commission also acknowledges Hungary’s economic performance
Ministry for National Economy, November 6, 2013 12:08 PM
The Ministry for National Economy welcomes the autumn forecast of the European Commission which provides a realistic evaluation of a gradually improving Hungarian economy. The forecast by EU experts confirms that Hungary’s fiscal deficit will not exceed 3 percent in the coming years.
Hungary’s positive retail sales trend unbroken
Ministry for National Economy, November 6, 2013 10:06 AM
In September this year, retail sale turnover increased by 0.3 percent in comparison to the corresponding period of the previous year, according to a flash report of the Hungarian Central Statistical Office (KSH).
Minimum wage increase the largest in Hungary, according to OECD
Ministry for National Economy, November 5, 2013 5:07 PM
Minister of State for Employment Sándor Czomba stated that in 2010-2013 Hungarian gross minimum wage increased to the largest extent, by 9.89%, among the 34 member countries of the Organization for Economic Co-operation and Development (OECD).
Government endorses Fidesz faction’s foreign currency debtor relief package
Ministry for National Economy, November 5, 2013 2:21 PM
The Government stands behind the Fidesz proposal to extend the exchange rate barrier scheme, however, consultations at the Ministry for National Economy will continue, Minister for National Economy Mihály Varga said.
Mihály Varga met with the President of the European Economic and Social Committee
Ministry for National Economy, November 4, 2013 3:15 PM
At talks with Hungary’s Minister for National Economy, European Economic and Social Committee President Henri Malosse expressed satisfaction with regard to results that Hungary has achieved in the field of employment, as the employment rate has recently hit a two-decade high.
Legal issues concerning foreign exchange loans must be settled first
Ministry for National Economy, October 31, 2013 4:31 PM
The legal issues concerning foreign exchange loans must be clarified first and an economic solution can follow, Minister for National Economy Mihály Varga said.
Hungary’s foreign trade surplus continues to increase
Ministry for National Economy, October 31, 2013 10:51 AM
According to the latest data, in August 2013 the volume of exports and imports were up by 1.4 percent and 0.4 percent, respectively, in comparison to the corresponding period of the previous year.
Employment hit a new high as wages continue to grow
Ministry for National Economy, October 30, 2013 4:59 PM
In Hungary, the number of people in employment continued to rise, as 54 thousand more people were in employment in July-September 2013 compared to the corresponding period of the previous year, the Hungarian Central Statistical Office (KSH) announced in a flash report.
Mihály Varga: The tax bill has four key objectives
Ministry for National Economy, October 30, 2013 2:57 PM
Before drafting the tax bill the Government had identified four main goals: easing the financial burden of families, improving business environment, cutting red tape and improving economic transparency, the Minister for National Economy announced at a press conference held in the Parliament.
Mihály Varga held talks with the Deputy Chairman of the Russian State Duma
Ministry for National Economy, October 30, 2013 2:43 PM
In Hungary’s Ministry for National Economy, Minister for National Economy Mihály Varga and Duma Deputy Chairman Sergey Zhelezniak discussed economic relations between the two countries, placing special emphasis on partnership options in the field of science and technology.
Italian production site for water pumps opened in Nagykanizsa
Ministry for National Economy, October 30, 2013 2:16 PM
The production facility for producing water pumps of the Italy-based DAB Production Hungary Ltd was ceremonially opened in Nagykanizsa.
Number of people in employment hit a new high
Ministry for National Economy, October 29, 2013 10:54 AM
In Hungary, the number of people in employment continued to rise, as 54 thousand more people were in employment in July-September 2013 compared to the corresponding period of the previous year, the Hungarian Central Statistical Office (KSH) announced in a flash report. The total number of people in employment thus reached a historic peak of 3 million 990 thousand.
Exchange of information on tax issues between Hungary and the USA
Ministry for National Economy, October 28, 2013 4:05 PM
Representatives of Hungary and the United States of America initialled an agreement to improve international tax compliance and assist the implementation of FATCA regulation.
Analysts also acknowledge a positive trend reversal
Ministry for National Economy, October 28, 2013 2:05 PM
In an interview to taxation and accountancy periodical SZAKma, Deputy State Secretary for Budgetary Affairs Péter Benő Banai drew attention to prognoses by analysts of international banks that predict economic growth to be in line with -- or even above -- Government estimates.
Government to table own relief package for foreign currency debtors
Ministry for National Economy, October 28, 2013 12:58 PM
In the opinion of Minister for National Economy Mihály Varga, the proposals of the Hungarian Banking Association disclosed last week do not address the two most pressing problems, and therefore the Cabinet will present its own recommendations for the relief of foreign currency debtors.
General government debt down by 4 percentage points over three years
Ministry for National Economy, October 28, 2013 12:03 PM
Hungary’s government debt-to-GDP ratio decreased by more than 4 percentage points over the past three years, Minister of State for Taxation Affairs Gábor Orbán said at a press conference in Budapest.
Minister of State Cséfalvay spoke about innovation strategy at biotechnology conference
Ministry for National Economy, October 24, 2013 5:29 PM
The Biotechnology Outreach Conference, organised by the Hungarian Biotechnology Association took place in Budapest October 24. Minister of State Cséfalvay, who was the patron of the event made the opening remarks. He talked about Hungarian economic policy also with regard to future plans, as well as the Government’s innovation strategy.