Ministry for National Economy

Mihály Varga

Minister for National Economy

Leading news

Retail sales on the rise for the sixteenth month in a row

Ministry for National Economy, December 19, 2014 11:16 AM

In comparison to the corresponding period of the previous year, the retail sector expanded by 5.2 percent in October, and by 5.1 percent in the first ten months of the year. Thus, Hungary’s retail sales turnover has been rising for the sixteenth consecutive month. This indicates that turnover growth will persist, as refunds by banks and the phasing out of foreign currency loans can further fuel growth.

Wages in real terms up by almost 4 percent in October 2014, year-on-year

Ministry for National Economy, December 19, 2014 10:23 AM

Wages in real terms were 3.7 percent higher in October and thus the positive upward trend which has been in place for 22 consecutive months continued, as the latest data released by the Hungarian Central Statistical Office (KSH) show.

Award for Successful Enterprises presented for the month of November 2014

Ministry for National Economy, December 17, 2014 2:58 PM

Minister for National Economy Mihály Varga presented the “Investor of the Month” award to Nemak Győr Alumíniumöntöde Ltd; while Hidrofilt Vízkezelést Tervező és Kivitelező Ltd was awarded the “SME of the Month” title, and in the category of “Startup of the Month” the Minister handed the award to Indivizo Ltd at a ceremony held in the building of the Ministry for National Economy in Budapest.

Parliament adopted 2015 Budget in Hungary

Ministry for National Economy, December 16, 2014 3:23 PM

MPs have adopted the 2015 Budget that aims to strengthen families, create jobs and stimulate economic growth, Minister for National Economy Mihály Varga said.

Industrial output 8 percent higher in the initial ten months of 2014

Ministry for National Economy, December 12, 2014 11:15 AM

In October 2014, Hungary’s industrial output increased by 1.7 percent and thus the sector has been expanding for the fourteenth consecutive month. In the first ten months of the year, the sector registered growth of 7.8 percent, while it has expanded by 15 percent since January 2010. This growth has been based on a sound economic structure, as output was higher not only in every Hungarian region but also in the majority of manufacturing sub sectors.

Consumer prices are lower again in November 2014

Ministry for National Economy, December 11, 2014 10:08 AM

In November 2014, consumer prices fell by 0.7 percent in comparison to the corresponding period of the previous year, and thus the inflation rate is near a record-low level.

Tourism sector performance improved in autumn

Ministry for National Economy, December 8, 2014 11:04 AM

Hungary’s tourism traffic continued to grow in the month of October 2014: the number of guests was up by 7.5 percent and that of tourism nights increased to almost 2 million. Steadily rising tourism traffic has also resulted in higher revenues: accommodation fees were up sharply, by 18 percent over the past one year, and totalled HUF 17.5bn. The expansion in October was also bolstered by the autumn school holiday and the subsequent long weekend, but various tourism development projects, improvement in the quality of services and the SZÉP Card have also added to the sector’s growth.