Ministry for National Economy

Mihály Varga

Minister for National Economy

Leading news

Foundation of Hungary to be celebrated by all Hungarians

Ministry for National Economy, August 22, 2016 2:39 PM

We must build a future in which everybody can live his life to the fullest in his own country, where people can be proud of their national cultures, where they can study, live and earn a decent living, Mihály Varga said at the 7th Hungarian Days held in Cluj-Napoca (Kolozsvár), Romania.

Real wages rising for three-and-a-half years in Hungary

Ministry for National Economy, August 19, 2016 11:00 AM

In the first half of 2016, wages in real terms rose by 7.5 percent – according to the latest flash report of the Hungarian Central Statistical Office (KSH). Thus, an upward wage trend has been in place for three years and a half. Since June 2015, the number of people in employment has increased by some 65 thousand at enterprises with at least five employees.

First economic cabinet meeting to discuss a 50-point agenda

Ministry for National Economy, August 15, 2016 3:15 PM

The newly formed economic cabinet is to hold its first meeting tomorrow and discuss some fifty points, among them the latest GDP data, potential Brexit outcomes, the status of the Modern Cities programme and fiscal processes, Minister for National Economy Mihály Varga told political daily Magyar Idők on Monday.

Hungary’s bank sector grew stronger once again

Ministry for National Economy, August 12, 2016 1:26 PM

he transaction through which the State of Hungary and the European Bank for Reconstruction and Development (EBRD) obtained a stake of 15 percent each in Erste Bank Hungary was concluded on 11 August, as the purchasing price has been transferred.

GDP growth in Q2 2016 beats prior expectations

Ministry for National Economy, August 12, 2016 12:09 PM

According to preliminary data, in the second quarter of 2016 Hungary’s GDP grew by 2.6 percent, well above market expectations.

Consumer prices slightly down in the month of July 2016

Ministry for National Economy, August 9, 2016 10:19 AM

In July 2016, consumer prices edged down by 0.3 percent compared to the corresponding period of the previous year. Inflationary processes continued to be benign, as price dynamics remained subdued in most product categories. Slightly lower prices helped preserve the value of wages and pensions, which have underpinned consumption growth and economic expansion.

Stagnation of industrial output growth seen as temporary

Ministry for National Economy, August 8, 2016 2:10 PM

The Ministry for National Economy expects stagnating industrial output growth to be transitory, as both order volume and industrial confidence indices are pointing to further expansion, Minister of State for Economic Development and Regulation István Lepsényi said, commenting on the latest industrial output data released by the Hungarian Central Statistical Office (KSH) last Friday.

Volume of retail sales on the rise for three years

Ministry for National Economy, August 3, 2016 3:46 PM

On Wednesday, Deputy State Secretary for Priority Corporate Relations Zoltán Marczinkó told public television channel M1 that the volume of retail sales has been on the rise for 36 consecutive months; over the past one year – with the exception of January – its growth rate was at 4-5 per cent year on year.

A record-low unemployment rate and a record-high number of people in employment registered in Hungary, June 2016

Ministry for National Economy, July 28, 2016 2:56 PM

According to the latest data compiled by the Hungarian Central Statistical Office (KSH), in June 2016 the number of people in employment exceeded 4.3 million in Hungary. The fact that the unemployment rate has hit the lowest level since the regime change confirms that Hungarian reforms are working.