Ministry for National Economy

Mihály Varga

Minister for National Economy

Leading news

2013 was the year of budget stability and new growth

Government, August 29, 2014 3:01 PM

The Government is putting the 2013 Budget Discharge Act before the National Assembly. 2013 was the year of budget stability and of a growth upturn. Thanks to budgetary discipline, last year was the third year in a row in which the budget deficit remained under 3 percent. In June 2013, Hungary freed itself from the nine-year excessive deficit procedure, which was the fault of previous socialist governments, and in August it repaid the country’s IMF loan ahead of schedule. In addition, all this was achieved while the country succeeded in realising new economic growth, the economy set off on a permanent growth trajectory, government debt diminished and the burdens of both families and employees were reduced.

Government considers assistance for car loan holders

Ministry for National Economy, August 22, 2014 11:20 AM

The Government will decide in the autumn on whether to include foreign-currency car loans in the forint conversion relief scheme, Minister of National Economy Mihály Varga said late on Thursday.

Minister Varga on Russian embargos

Ministry for National Economy, August 21, 2014 2:03 PM

Russian embargo moves should be monitored in order to ease their impact on the Hungarian economy, Minister for National Economy Mihály Varga said on Thursday.

Ministry for National Economy raises 2014 GDP forecast to 3.1 percent

Ministry for National Economy, August 18, 2014 5:50 PM

The Ministry for National Economy raised its full-year GDP forecast for 2014 to 3.1 percent, Minister Mihály Varga said on Monday.

Hungary’s GDP grew by almost 4 percent in Q2 2014

Ministry for National Economy, August 14, 2014 12:04 PM

In Q2 2014, Hungary’s GDP was up by 3.9 percent in comparison to the corresponding period of the previous year, the Hungarian Central Statistical Office (KSH) reported on the basis of preliminary data. This has been the highest quarterly GDP growth figure since Q1 2016. Compared to Q1 2014, GDP increased by 0.8 percent.

Industrial sector continues to deliver excellent results

Ministry for National Economy, August 13, 2014 11:46 AM

Adding to the outstanding performance registered in the previous month, industrial output growth in June 2014 increased by 11.3 percent year-on-year. In the initial six months of the year, output was 9.4 percent higher in comparison to the corresponding period of the previous year. Compared to the previous month, industrial output adjusted for seasonal and workday effects was up by 1.8 percent in June.

The number of mothers with small children returning to work increased by one-third

Ministry for National Economy, August 11, 2014 12:52 PM

According to data of Q2 2014 compiled by the Hungarian Central Statistical Office (KSH), the number of women who returned to work after they had received maternity benefits and childcare allowance or had been stay-home mothers was up by 37 percent year-on-year, former Ministerial Commissioner Piroska Szalai, responsible for improving the labour market prospects of women, announced in a press release.

The deficit of the central sub sector of the state budget in the period January-July 2014 is equal to the shortfall in the corresponding period of the previous year

Ministry for National Economy, August 7, 2014 4:00 PM

The deficit of the central sub sector of the state budget was HUF 851.4bn in January-July 2014. Within that amount, the deficit of the central government budget and Social Insurance Funds was HUF 1031.1bn and HUF 134.2bn, respectively, while Extrabudgetary Funds posted a surplus of HUF 45.5bn.

Hungarian baths had 31 million guests last year

Ministry for National Economy, August 4, 2014 3:09 PM

Last year, the number of visitors at the 200 most significant Hungarian baths frequented also by tourists was some 31 million and development projects related to these are to be continued in the coming EU fiscal period, Deputy State Secretary for Tourism Viktória Horváth said at a press conference held in Budapest.