Ministry for National Economy

Mihály Varga

Minister for National Economy

Leading news

Government measures also among drivers of wage growth

Ministry for National Economy, September 20, 2017 11:25 AM

The Government has been committed to constantly improving the financial situation of Hungarian families, and this has been proven by the robust real wage growth driven by, among others, the six-year wage agreement, several public sector career models and wage increases at state enterprises, Minister for National Economy Mihály Varga said a press conference earlier today.

Digital financial policy and the taxation of international on-line services providers also on ECOFIN agenda in Tallinn

Ministry for National Economy, September 18, 2017 11:07 AM

The EU regulation of a new generation of market players, digital financial services providers or so-called fin-tech companies, and the deepening of the Economic and Monetary Union (EMU) were also on the agenda of the informal ECOFIN session held in Tallinn, Estonia, Minister of State for Financial Affairs Ágnes Hornung said. On Saturday, a proposal on the taxation of Internet-services giants was discussed, she added.

Construction sector output higher again in July 2017

Ministry for National Economy, September 15, 2017 11:44 AM

In July 2017, construction sector output gained 22.7 percent year-on-year, and thus the sector’s dynamic growth, observed since the beginning of the year, has continued. The upward trend is expected to remain in place, as the volume of contracts concluded until the end of the month in the sector was up by 83.7 percent compared to the corresponding period of the previous year. Government measures, such as the Family Housing Allowance (CSOK) and reduced VAT on housing, have also invigorated the demand and supply sides of the sector.

Silver medal awarded to the Hungarian pavilion at the Astana Expo

Ministry for National Economy, September 12, 2017 10:10 AM

In the category Theme Development, the Hungarian pavilion was selected as the second best after that of Switzerland by an international independent panel of nine international experts from the Bureau International des Expositions (BIE), which had evaluated some 140 exhibitors of the Expo in a two-step process.

In spite of higher expenditures the state budget remained stable

Ministry for National Economy, September 7, 2017 2:33 PM

Promoting economic growth and bolstering the status of enterprises and families have been in the focal point of Government measures. And the funds required for this purpose are available while fiscal stability has been maintained.

Another large enterprise joins the Government’s supplier development programme

Ministry for National Economy, September 6, 2017 3:03 PM

The Bosch Group is yet another company to join the National Supplier Programme Working Group, Minister for National Economy Mihály Varga said at the ceremonial signing of a letter of intent on participation.

Historic moment: government bond yields turned negative at the latest auction

Ministry for National Economy, September 5, 2017 3:03 PM

Since the state of Hungary began borrowing, it has been unprecedented that creditors actually paid the state for the loan, Minister for National Economy Mihály Varga said. It is a great moment, he noted - adding that Hungary’s economic growth and future outlook have convinced market participants that it was worth investing in the country.

Retail sales growth trend in place for 49 months in Hungary

Ministry for National Economy, September 5, 2017 3:29 PM

The volume of retail sales has been rising steadily for the 49th consecutive month, Deputy State Secretary for Priority Enterprise Relations Zoltán Marczinkó told public news channel M1, commenting on the latest data published by the Hungarian Central Statistical Office (KSH) earlier today.

Closer relations between universities and the industrial sector bolster economic growth

Ministry for National Economy, September 4, 2017 3:45 PM

The Hungarian industrial sector, which is in a phase of renewal and robust growth, is and will be in the need of more skilled labour, Minister for National Economy Mihály Varga said at the school year opening of Óbuda University. The Minister also announced that the institution was to receive a grant of HUF 1.8bn (EUR 60 million) to fund a dormitory refurbishment project.