Next year’s budget is expected to make everyday living conditions easier, Minister for National economy Mihály Varga said on Monday when he ceremoniously handed the draft of the 2014 Budget to President of Hungary’s Parliament László Kövér.
New jobs created in the private sector were also behind the increase in employment both over the past one and three years. As a result, according to the latest data of the Hungarian Central Statistical Office (KSH), the number of people in employment hit a two-decade high this summer, Minister of State for Employment said at a press conference in Budapest.
It would be impossible for the Hungarian economy to make headway without innovation, development and production of added value, therefore it is necessary for innovative ideas to materialize as enterprises and become an organic part of Hungary’s economy, Minister for National Economy Mihály Varga said at the ceremony for presenting the “Award for Successful Enterprises” in the month of September in Budapest.
Over the past three years, the Government managed to significantly mitigate and modify the adverse effects of the financial crisis, Minister for National Economy Mihály Varga said in Békéscsaba, at the 51st Economist Congress.
As Minister of State Zoltán Cséfalvay said at the conference entitled Competitive Enterprise=Competitive Economy organized by business daily Világgazdaság in Budapest, a large proportion of EU funding will be channelled to small and medium-sized enterprises in the upcoming EU fiscal period.
Through an agreement, the partners of ClusterCOOP confirmed their intention for further cooperation with the aim of coordination within the cluster policy of Central and Eastern European countries. At the same time, the results of the project achieved thus far were approved.
The budget deficit (1.9 percent of gross domestic product) has not been at such a low level for 10 years and according to forecasts it will remain below 3 percent next year.
Over the past period, Central and Eastern European countries – among them Hungary – introduced measures which made the economy more resistant to future crises, Minister of State Zoltán Cséfalvay said at the press conference held during the International Business Forum in Budapest.
With the participation of eleven countries, Minister for National Economy Mihály Varga opened the ministerial meeting of the Central European Initiative (CEI) in the Ministry for National Economy. The economic leaders of participating countries discussed, among others, the instruments of crisis management, issues of financial stability and economic growth as well as the strengthening of the competitiveness and global prospects of small and medium-sized enterprises.
As Minister for National Economy Mihály Varga said, the economy ministers of the Visegrád countries (V4) held negotiations on European Union issues and surveyed crisis management experiences as well as cooperation options for small and medium-sized enterprises at the press conference after their Budapest meeting.