Ministry of Finance

Mihály Varga

Minister of Finance

Leading news

All conditions given to achieve deficit target

Ministry of Finance, December 7, 2018 2:16 PM

In spite of an economic policy built on tax cuts, continuously increasing tax revenues are resulting in the stability of the state budget. Accordingly, the implementation of various economic and social policy objectives continues to be ensured. With expected growth of well over 4 percent, the ESA deficit target of 2.4 percent of GDP can be achieved.

Hungarian economy achieves never-before-seen growth

Ministry of Finance, December 5, 2018 10:27 AM

As a result of the Government’s economic policy, which places tax cuts and wage increases at the forefront, economic growth in the 3rd quarter of 2018 was even higher than the preliminary forecast at 5.2%.

Hungarian economy has grown at unprecedented rate

Ministry of Finance, December 6, 2018 1:14 PM

In consequence of the government’s economic policy focusing on tax reductions and pay rises, economic growth in the 3rd quarter of 2018 was higher than preliminary estimates indicated, peaking at 5.2 per cent.

International Investment Bank to transfer its headquarters to Budapest

Ministry of Finance, December 5, 2018 10:19 AM

“The headquarters of the International Investment Bank is moving to the Hungarian capital”, Minister of Finance Mihály Varga announced, reporting on the unanimous decision brought by the financial institution’s Board of Governors at its session on 4 December, which also gave the Bank’s President a mandate to conclude the related agreement.

Hungary does not support separate budget for Eurozone

Ministry of Finance, December 6, 2018 3:15 PM

Creating a separate Eurozone budget is contrary to Hungary’s interests, Mihály Varga stressed at the extended meeting of Eurozone finance ministers where attendees discussed the French-German proposal disclosed to the public in November.

Competitiveness proposals to be put before the Cabinet

Ministry of Finance, November 30, 2018 10:05 AM

“Today, the National Competitiveness Council (NCC) approved the main recommendations for the improvement of competitiveness, which it will be putting before the Cabinet”, Minister of Finance Mihály Varga announced at a press conference following the body’s session today.

Investments have grown by more than twenty per cent

Ministry of Finance, November 29, 2018 1:07 PM

It is partly thanks to the measures recently implemented with a view to boosting investments, such as the single-digit corporation tax, the reduced burdens of employers and the effective utilisation of development funds, that in the first three-quarters of the year investments worth more than HUF 5,300 billion have been implemented in Hungary, Minister of Finance Mihály Varga announced evaluating the latest investment data.

A growth rate between 4.3-4.5 per cent is expected for this year, and a growth rate above 4 per cent for next year

Ministry of Finance, November 21, 2018 5:12 PM

According to Finance Minister Mihály Varga, the Hungarian gross domestic product will increase by 4.3 to 4.5 per cent this year, and based on the government’s expectations, the economy in Hungary will expand at a rate above 4 per cent next year as well.

OECD, too, has upgraded growth projection for Hungarian economy

Ministry of Finance, November 21, 2018 5:17 PM

The OECD has upgraded its 2018 growth projection for Hungary from the earlier 4.4 per cent to 4.6 per cent, but also for next year its projection concerning the growth of the Hungarian economy is 0.3 per cent more optimistic than earlier.