Ministry for National Economy

Mihály Varga

Minister for National Economy

Leading news

Minister Varga: The success of our enterprises is built on mutual trust

Ministry for National Economy, November 23, 2017 4:13 PM

“The goal we must be aiming for is to make Hungary capable of keeping up with highly industrialized countries, no matter if in terms of technologies used in industrial production, a supportive business environment or adequately trained work force,” Minister for National Economy Mihály Varga said at a gala event in Budapest celebrating the 130th anniversary of the presence of Siemens in Hungary. “The achievements of the Hungarian economy in recent years enable us to set ambitious goals”, he noted.

Retail sales growth trend unbroken for the 51st consecutive month in Hungary

Ministry for National Economy, November 23, 2017 2:40 PM

In September 2017, unadjusted data show that the volume of retail sales grew by 5.6 percent year-on-year, while data adjusted for calendar effects indicate growth of 6.2 percent. The sector’s 51-month upward growth trend has been underpinned, among other factors, by VAT reductions, job growth and the marked increase in real wages caused by the Government’s six-year wage deal.

Construction sector summit aiming for sustainable growth to be held by Government and sector representatives on Friday

Ministry for National Economy, November 21, 2017 4:05 PM

Output in the construction sector has recently soared, and the Government wants to maintain a steady and balance growth rate, Minister for National Economy Mihály Varga said at a press conference where a construction sector summit, to be held this Friday, was announced. This meeting will make cooperation between the Government and domestic construction enterprises in the handling of the challenges faced by the sector even more efficient, he added.

Deal for development loan concluded with the European Investment Bank

Ministry for National Economy, November 21, 2017 11:26 AM

The European Investment Bank (EIB) is contributing EUR 200 million to the implementation of EU-funded economic development programmes, Minister for National Economy Mihály Varga said after signing the agreement with EIB Vice President Vazil Hudak.

Hungarian economic growth poised to accelerate

Ministry for National Economy, November 14, 2017 2:31 PM

Hungary’s economy grew dynamically in the third quarter of this year, a trend accompanied by steadily rising wages, and thus working people have been gaining more and more from economic expansion, Minister for National Economy Mihály Varga said, commenting on the latest (preliminary) GDP data released by the Hungarian Central Statistical Office (KSH).

Construction sector maintained high pace of output growth

Ministry for National Economy, November 13, 2017 3:07 PM

In September 2017, output volume in the construction sector grew by 23.8 percent year-on-year. Besides the Government’s housing measures, the sector’s robust expansion has also been the result of private and public sector projects. Compared to the output average of 2010, the sector’s output has been up by some 16 percent this year.
The output volume of the construction of buildings and civil engineering works was up by 22.9 percent and 25.4 percent, respectively.

Industrial sector output growth trend remained steady and persistent

Ministry for National Economy, November 13, 2017 2:59 PM

In September 2017 and in the period January-September 2017, the volume of industrial sector output grew by 5.4 percent and 5.2 percent year-on-year, respectively. Since January 2010, the sector’s output has been up by more than 35 percent, and thanks to favourable economic conditions the sector’s expansion is expected to continue.