Ministry of Finance

Mihály Varga

Minister of Finance

Leading news

Finance Minister holds negotiations on Budapest-Belgrade railway line project in China

Ministry of Finance, April 9, 2019 2:40 PM

“Hungary is committed to the early realisation of the Budapest-Belgrade railway line development project”, Mihály Varga declared at a meeting with the Export-Import Bank of China in Beijing.

Budgetary trends are in line with projections

Ministry of Finance, April 9, 2019 11:00 AM

The main factors that characterized the budget in the first quarter were higher revenues generated by economic trends that had offset the effect of tax reductions and higher state expenditures for domestic and EU projects. As a result, the budget closed the quarter with a deficit of HUF 141.9bn. The year-end deficit target and a lower government debt-to-GDP ratio are to be attainable.

Hungary’s instruments for improving economic transparency may serve as models for the EU

Ministry of Finance, April 8, 2019 10:35 AM

The pro-growth tax regime has been a major factor behind the performance of the Hungarian economy. The pro-transparency and pro-business elements of this system may serve as models for other member states, Minister of Finance Mihály Varga said at a meeting of EU finance ministers in Bucharest.

The preparation of the euro-zone budget must not jeopardize existing EU programmes and instruments

Ministry of Finance, April 8, 2019 10:28 AM

The preparation of the euro-zone budget must not jeopardize existing EU programmes and instruments; accordingly, Hungary regards it acceptable on the condition that funds of the multi-annual budgetary framework and contributions by member states are increased, Minister of Finance Mihály Varga said at an Ecofin meeting in extended format in Bucharest.

Earnings in real terms gained more than 70 percent since 2010

Ministry of Finance, March 29, 2019 11:14 AM

Earnings in real terms, including family tax allowances, have increased markedly, by more than 70 percent in the period 2010-2018. As in 2017, employees earned an extra month worth of wages in 2018, and this has greatly improved the finances of families.

Economic trends underpin fiscal stability in Hungary

Ministry of Finance, March 13, 2019 8:32 AM

The central sub sector of the state budget closed the first two months of the year with a surplus of HUF 67.3bn, thanks to a great extent to the Government’s economic policy.

Communism was a tragedy for all of us

Ministry of Finance, February 28, 2019 11:05 AM

There is hardly any family in Hungary that was not hit hard by the Communist dictatorship in one way or another, Minister of Finance Mihály Varga, MP for the 2nd and 3rd districts of Budapest, said in Budapest at a commemoration ceremony held by the Christian Democratic People’s Party.

The Hungarian economy has been performing well for years

Ministry of Finance, February 28, 2019 11:00 AM

It is now not only the Government of Hungary that recognizes the good performance of the Hungarian economy in recent years but also credit rating agencies, Minister of State for Financial Affairs Gábor Gion said on public news broadcaster M1, commenting on the latest upgrades by Standard and Poor's and Fitch Ratings.

Hungary has been given another rating upgrade

Ministry of Finance, February 25, 2019 12:41 PM

The Hungarian economy has been given another rating upgrade; Fitch has upgraded Hungary’s rating by one category, Finance Minister Mihály Varga announced. He added that today no one can deny any more that the Hungarian economy, thanks to the hard work of the Hungarian people, is doing better and better, and could increase also in the coming years.