Ministry for National Economy

Mihály Varga

Minister for National Economy

Leading news

Unemployment rate at a historic low in Hungary

Ministry for National Economy, September 27, 2016 10:53 AM

Hungary’s unemployment rate has hit a level unseen since the regime change of 1989, and the number of economically active people has concurrently reached a historic high, Minister for National Economy Mihály Varga said, commenting on the latest labour data compiled and published by the Hungarian Central Statistical Office (KSH).

Taxation policy a major contributor to good economic results

Ministry for National Economy, September 22, 2016 2:48 PM

We have a new tax authority that has become capable of assisting the expansion of the Hungarian economy though its own tools, Minister for National Economy Mihály Varga said at the first National Tax Consultation conference, organized by the National Tax and Customs Administration (NAV) and the largest tax consultancy firms in Budapest.

Every major economic indicator shows improvement

Ministry for National Economy, September 22, 2016 2:47 PM

Not only the level of government debt and fiscal processes have changed favourably, but every major indicator that describes the status of a country’s economy, Minister of State for Public Finances Péter Benő Banai told public news channel M1.

New government incentive for purchasing environmentally friendly vehicles

Ministry for National Economy, September 21, 2016 11:46 AM

It is in Hungary’s economic interest to successfully participate in the imminent change the car industry is facing, Minister for National Economy Mihály Varga said at the E-mobility Forum 2016, an event organized to mark the European Mobility Week.

2 October referendum will be decisive for all Hungarians

Ministry for National Economy, September 20, 2016 3:01 PM

On 2 October, people will cast their votes on the future they wish for their children and grandchildren, and thus this referendum is decisive for all Hungarians, Minister for National Economy Mihály Varga said at a civic forum in Budapest.

Wages in real terms up for the 43rd consecutive month

Ministry for National Economy, September 20, 2016 11:20 AM

In the initial seven months of 2016, wages in real terms were significantly higher year-on-year, having gained 7.4 percent. Thus, the upward wage growth trend has been unbroken for more than three years and a half in Hungary. Within the private sector -- at enterprises with at least five employees -- the number of people in employment rose by 65 thousand since July 2015.

Government utilizes development funds in an efficient and rewarding manner

Ministry for National Economy, September 19, 2016 2:12 PM

The efficient and transparent absorption of EU development funds has been and continues to be instrumental in maintaining the growth momentum of the Hungarian economy seen in recent years, Minister for National Economy Mihály Varga said, at the 25th conference of the audit authorities of EU member states, the European Commission and the European Court of Auditors in Budapest.

Maintaining economic growth is number one economic policy challenge

Ministry for National Economy, September 19, 2016 11:36 AM

The S&P upgrade can convince the last sceptics that Hungary has achieved a positive economic trend reversal, Minister for National Economy Mihály Varga said at the 54th Conference of Hungarian Economists in Kecskemét.

S&P upgrade confirms market valuations

Ministry for National Economy, September 19, 2016 10:34 AM

Following the upgrade by Fitch Ratings in May 2016, S&P’s decision to restore Hungary’s status in investment grade category has been the direct consequence of the country’s economic performance, Minister for National Economy Mihály Varga said, commenting on the ratings agency’s announcement. It is another sign, he added, that the transformation of the Hungarian economy has been successful.