On Monday, the Hungarian Government signed a strategic partnership agreement with General Electric (GE) Hungary.
Hungary's economy has passed its economic growth nadir, the OECD's latest report on Hungary's economic cycles said.
According to the final estimate of the Hungarian Central Statistical Office, in the third quarter of 2012 gross domestic product, as formerly anticipated, declined in Hungary by 1.5 percent in comparison to the corresponding period of the previous year; compared to the previous quarter the contraction was 0.2 percent. Regarding the initial three quarters of the year, the economy posted negative growth of 1.3 percent in comparison to the same period of 2011. The entire European economy has been facing tough challenges and that is aptly reflected by international data which signal that the EU’s GDP declined by 0.4 percent.
Minister for National Economy György Matolcsy and EIB Vice President Wilhelm Molterer have signed two project financing contracts amounting altogether to 560 million EUR to support the Hungarian economy.
The Ministry for National Economy as majority shareholder welcomes the first, successfully concluded phase of the bond issuance programme of the Hungarian Export-Import Bank Zrt. (Eximbank).
At least half of EU 2014-2020 development funds must be applied to direct economic development in general, and to the stimulation of the development of small and medium-sized enterprises in particular, as opposed to the 16 percent in the seven-year period ending now, said Minister of State at the Ministry for National Economy Zoltán Cséfalvay at a conference on Tuesday.
The economic policy of the Hungarian Government is in accordance with priorities defined by the European Union, and some of their recommendations have already been implemented due to Government measures, Minister of State for Economic Policy at the Ministry for National Economy Zoltán Cséfalvay said at the Monday session of the Parliament’s Committee on European Affairs.
The optimal application of EU resources for Hungary and their utilization to enhance growth were identified as key tasks by Minister of State for Economic Strategy at the Ministry for National Economy Zoltán Cséfalvay at an international conference on European growth prospects in Budapest organized by the European Commission Representation in Hungary on Friday.
According to the latest flash report of the Hungarian Central Statistical Office (KSH), foreign trade had a positive balance of 215bn HUF in September 2012. In the initial nine months of the year the volume of exports increased by 2.1 percent and that of imports slightly less by 0.7 percent in comparison to the corresponding period of the previous year. In the period January-September 2012 total foreign trade surplus amounted to 1 578bn HUF.
After having completed a national consultation forum the Government may discuss the National Research, Development and Innovation Strategy - Minister of State for Economic Strategy and Parliamentary Affairs Zoltán Cséfalvay from the Ministry for National Economy announced on Thursday at a conference in Szeged.