Ministry for National Economy
News
Hungarian vehicle manufacturing sector produces 10 percent of GDP
Ministry for National Economy, February 11, 2014 9:49 AM
Hungary’s vehicle manufacturing industry produced some EUR 18bn last year, which amount constitutes 18 percent of total Hungarian manufacturing industry output, 10 percent of Hungary’s GDP and 18 percent of total Hungarian exports, Minister for National Economy Mihály Varga said at the ceremony for presenting the “Award for Successful Enterprises”, the first such event this year.
Funding of HUF 6.9bn to help young people become entrepreneurs
Ministry for National Economy, February 11, 2014 8:24 AM
The Government provides HUF 6.9bn for young people aged 18-35 years aiming to become entrepreneurs, and thus the objective is to extend the number of employment options available for Hungarian young people, Minister of State for Employment Sándor Czomba said at a press conference in Budapest.
Outstanding performance by the tourism sector in 2013
Ministry for National Economy, February 10, 2014 11:37 AM
According to data compiled and published by the Hungarian Central Statistical Office (KSH), 8.8 million guests spent 22.8 million tourism nights at Hungarian commercial accommodations in 2013. Parallel to the almost 5 percent increase of the number of guests and tourism nights, revenues of commercial accommodations were also up by 10 percent last year.
HUF 200bn to assist youth employment in 2014-2020
Ministry for National Economy, February 10, 2014 10:40 AM
In the 2014-2020 EU fiscal period, Hungary intends to spend one-third of the HUF 600bn made avaialable for stimulating employment on improving the labour market prospects of young people aged 15-24 years and thus assist 150 thousand people in starting their careers, Minister of State for Employment Sándor Czomba said in Budapest, following a conference on youth employment held within the framework of the Szabad Európa Vitanapok (Free Europe Debates).
Strategic Partnership Agreement signed with Knorr-Bremse
Ministry for National Economy, February 7, 2014 11:01 AM
The Government concluded a Strategic Partnership Agreement with Knorr-Bremse Hungary, a leading manufacturer of rail and road vehicle braking systems, which was signed by Minister for National Economy Mihály Varga and Knorr-Bremse AG Chairman Michael Buscher at the company’s Budapest headquarters.
State budget data for January 2014 are in line with expectations
Ministry for National Economy, February 6, 2014 4:00 PM
The balance of the central sub sector of the state budget in the first month of 2014 was in line with the Government’s prior estimates, as a deficit of HUF 75.4bn was recorded.
Financial deal finalized on expanding Paks
Ministry for National Economy, February 6, 2014 1:31 PM
Minister for National Economy Mihály Varga, speaking on public service television M1 this morning, said that the agreement on the financing of the Paks nuclear power plant expansion project offers conditions which are more favourable than those available on the market. Meeting in Moscow, the two parties agreed to a variable-rate loan of EUR 10bn with a tenor of 21 years.
Successful debut of Hungarian start-up strategy in Sweden
Ministry for National Economy, February 6, 2014 10:15 AM
Hungary’s policy for assisting innovative start-ups has made a successful debut in Sweden, Minister of State for Parliament and Economic Strategy Zoltán Cséfalvay told MTI, calling from Sweden following a Hungarian innovation forum.
Hungary signs FATCA as the first country in the region
Ministry for National Economy, February 6, 2014 9:57 AM
Charge d’Affaires of the Embassy of the United States of America M. André Goodfriend and Minister of State for Taxation and Financial Affairs Gábor Orbán signed an agreement today between the governments of Hungary and the United States of America to implement the U.S. Foreign Account Tax Compliance Act (FATCA).
Markets will calm down after a period of transitory volatility
Ministry for National Economy, February 6, 2014 8:49 AM
Because of forint exchange rate volatility this year’s budget does not have to be modified and the Government has a firm grip on fiscal processes, Minister for National Economy Mihály Varga said at a press conference, adding that the fiscal deficit will be below 3 percent and following a period of turbulences the Government is expecting markets to cool off.