Ministry for National Economy
News
Manufacturing investment growth resuming
Ministry for National Economy, November 29, 2012 12:06 PM
In the third quarter of 2012, manufacturing sector investments which constitute more than 30 percent of total Hungarian investments could pick up steam again, due primarily to impressive performance in sub sectors of significant weight. In the third quarter manufacturing sector investments increased by 3.8 percent year-on-year.
Summary of tax amendments adopted at Parliament’ autumn session
Ministry for National Economy, November 28, 2012 2:21 PM
In the focal point of taxation policy: securing financial balance, acknowledging aspiring entrepreneurs and reducing the proportion of income taxes while increasing the role of consumption and turnover taxes.
Memorandum of Understanding concluded with the World Bank
Ministry for National Economy, November 28, 2012 2:07 PM
On 27 November 2012 Minister of State at the Ministry for National Economy Gyula Pleschinger signed a Memorandum of Understanding with Peter Harrold, the World Bank’s Country Director for Central Europe and the Baltic Countries.
Minister Matolcsy in Berlin strengthening economic ties with Germany
Ministry for National Economy, November 28, 2012 2:05 PM
Today Minister for National Economy György Matolcsy leads negotiations on current economic policy issues and German-Hungarian economic relationships in Berlin.
Efficient application of EU funds is in Hungary’s interest
Ministry for National Economy, November 27, 2012 1:22 PM
It is in Hungary’s best interest to utilize European Union development funds efficiently and invest a large part of them in economic development between 2014 and 2020, Minister of State at the Ministry for National Economy stressed at a Budapest press conference held on the occasion of his appointment as EU chief negotiator on Monday. He added, conclusions need to be drawn from the period 2007-2013 and in the next development cycle EU fund application shall be more targeted, less piecemeal and the entire process shall be supported by a more efficient institutional background.
Downgrade by Standard&Poor’s Rating Services should not be taken seriously
Ministry for National Economy, November 26, 2012 6:02 PM
Rating agencies can no longer be taken seriously as they were the ones that suffered the largest loss of credibility during the years of crisis. Having failed to predict the financial crisis, they are a thing of the past now. The future will not depend on them or on speculators, but on countries and production. Instead of credit rating agencies, Hungary has been assessed by investors which have brought working capital to the country in the past couple of years, such as Daimler, Audi, Knorr-Bremse, Alcoa-Köfém or Coca-Cola.
Minister of State Zoltán Cséfalvay to head negotiations on use of EU funds
Ministry for National Economy, November 26, 2012 5:02 PM
Minister for National Economy György Matolcsy entrusts Minister of State for Economic Strategy Zoltán Cséfalvay to head the negotiations on implementing European Union development funds in the period 2014-2020.
Retail sales stagnating or declining in Europe
Ministry for National Economy, November 26, 2012 12:02 PM
In the initial three quarters of 2012 the volume of retail sales declined by 1.5 percent year-on-year that has been the consequence mainly of lower sales of non-food products and automotive fuel. Mail order and internet sales have continued to boom. Turnover of food has been practically unchanged in the past nine months. In September 2012 total retail sales declined by 3.1 percent, whereas there are several expanding sub sectors such as, for example, trade in non-specialized stores, textiles, clothing and footwear as well as cosmetics articles. The overall unfavorable data have not been a purely Hungarian phenomenon: this trend has been typical of several other countries and regions in Europe.
Enterprises can utilize tax relief on contributions for researchers
Ministry for National Economy, November 22, 2012 5:18 PM
The draft version of the National Research, Development and Innovation Strategy published on 6 November focuses on enterprises and production of higher added value. One of the new elements of tax regulations adopted on Monday, tax relief on contributions for researchers, is fully consistent with this concept.
National Assembly voted on taxing public utility pipelines and cables
Ministry for National Economy, November 22, 2012 4:44 PM
The Parliament has adopted the bill on levying tax on public utility pipelines and cables thus contributing to fiscal stabilization parallel to enforcing more proportionate burden-sharing.