Ministry for National Economy

Mihály Varga

Minister for National Economy

Leading news

Domestic retail sector posts higher than EU average growth

Ministry for National Economy, June 24, 2016 12:12 PM

Retail sales grew by 6.7 percent in April compared to the same period in the previous year, meaning sales have now increased for the 34th consecutive month. In international comparison, April’s increase in retail sales in Hungary was the highest in the European Union and well above the EU average of 2.4 percent.

Hungary: a favourable investment ground for US businesses as well

Ministry for National Economy, June 23, 2016 6:34 PM

The Hungarian Government’s investor-friendly economic policy offers favourable opportunities to businesses from the United States as well, Minister for National Economy Mihály Varga stated at the meeting held with the delegation of the US-Hungary Business Council.

The renewed International Investment Bank could facilitate the economic development of Member States

Ministry for National Economy, June 23, 2016 11:59 AM

“One of the priority goals of Hungarian economic policy continues to be to improve domestic and international conditions for sustainable economic growth”, Minister for National Economy Mihály Varga stressed at the opening of the International Investment Bank’s (IIB’s) Council Meeting in Budapest.

Projects and developments in next year’s budget

Ministry for National Economy, June 21, 2016 4:02 PM

Thanks to the budget of tax reductions and housing benefits, everyone will be able to take a step forward next year.

Real wages increase by over 7 percent

Ministry for National Economy, June 21, 2016 2:27 PM

Real wages within the national economy once again increased by an outstanding amount, by 7.5 percent, from January-April 2016, according to the quick report published this morning by the Central Statistical Office (KSH). Hungarian reforms are working, as also indicated by the fact that real wages in Hungary have been increasingly continuously for 40 months in succession.

Hungary and EBRD acquire minority stakes in Erste Bank Hungary Zrt

Ministry for National Economy, June 20, 2016 2:30 PM

The new shareholders will each own a 15 per cent equity stake.

Next year’s budget adopted with reserve funds of HUF 205bn

Ministry for National Economy, June 14, 2016 3:51 PM

Reserves in three budget estimates of the 2017 Budget total HUF 205bn, which amount guarantees that tax reductions continue, the government debt-to-GDP ratio falls further and the budget remains balanced even if external conditions worsen, Minister of State for Public Finances Péter Benő Banai told news channel M1on Tuesday.

Industrial output rose by more than 5 percent in April 2016

Ministry for National Economy, June 14, 2016 1:13 PM

In April 2016, the volume of industrial output was up by 5.3 percent, while in the initial four months of the year output rose by 1.5 percent year-on-year. The momentum that had been driving the sector after January 2010 is expected to return. Over the past six years, industrial output has gained 24.3 percent, while since the beginning of 2014 it has increased by 9.0 percent in Hungary.

It is in the interest of Hungary and the EU to normalize relations with Russia

Ministry for National Economy, June 14, 2016 11:08 AM

Minister for National Economy Mihály Varga met with US State Department Coordinator for Sanctions Policy Daniel Fried, who on his visit was accompanied by US Ambassador Colleen Bell.