Ministry for National Economy

Mihály Varga

Minister for National Economy

Leading news

Employment in Hungary hit new high in Q2 2015

Ministry for National Economy, August 28, 2015 11:18 AM

As the latest report of the Hungarian Central Statistical Office (KSH) shows, the number of people in employment has been above the 4 million mark for one-and-a-half years in Hungary. In May-July 2015, the number of those aged 15-74 years in employment grew by 139 thousand, to 4 million 224 thousand year-on-year. Thus, this indicator has reached a 23-year peak and the number of people in employment is more than 500 thousand higher than in 2010, at the change of Government. The unemployment rate declined further, to 6.8 percent, the best figure in 11 years.

Awards for Successful Enterprises, June-July 2015

Ministry for National Economy, August 27, 2015 4:19 PM

The Government holds enterprises in high esteem and helps them to extra funding by publishing calls for tender of operative programmes until the summer of 2017, Minister for National Economy Mihály Varga said at the presentation ceremony of the Awards for Successful Enterprises in Budapest at which the Minister this time honoured tourism enterprises.

Hungarian retail sector maintained growth momentum of past two years

Ministry for National Economy, August 27, 2015 11:40 AM

In June 2015, calendar-adjusted data show that the volume of retail sales rose by 6.2 percent year-on-year, while unadjusted data signal an even larger increase of 7.2 percent. This growth figure is the fourth largest within the EU, and more than three times larger than the EU average. Remarkable food sales growth in June confirms that consumers have adjusted to the introduction of Sunday shopping restrictions.

Job Protection Action scheme proven successful

Ministry for National Economy, August 26, 2015 4:35 PM

In light of data from June 2015, enterprises claimed allowances granted by the Job Protection Action for more than 850 thousand employees and thus employers have saved some HUF 300bn over the past two-and-a-half years, Minister of State for Employment Sándor Czomba told public news channel M1.

Three R&D calls for tenders published

Ministry for National Economy, August 26, 2015 10:54 AM

One of the main aims of the Economic Development and Innovation Operative Programme (EDIOP) is to boost the research, development and innovation activities of domestic enterprises. The three calls for R&D&I tenders announced on 25 August, which grant funding of altogether HUF 71bn, focus on this goal, Minister of State for the Utilization of EU Funding Balázs Rákossy said.

HUF 70bn of EU funding earmarked for Danube region projects

Ministry for National Economy, August 25, 2015 11:04 AM

Until 2020, the EU made HUF 70bn available for cooperation and support projects within the Danube region, as on 20 August 2015 the European Commission adopted the Danube Transnational Programme elaborated jointly by the fourteen countries of the Danube basin.

2.4 percent budget deficit target still realistic

Ministry for National Economy, August 19, 2015 4:28 PM

Thanks to favourable real economic processes, the general government budget deficit-to-GDP ratio of 2.4 percent projected for 2015 is still realistic, as the Government continues to analyse and closely monitor processes, and maintain a prudent fiscal policy, Minister of State for Public Finances Péter Benő Banai said.

Wages in real terms up for two years and half

Ministry for National Economy, August 19, 2015 10:59 AM

Wages in real terms were up again significantly, by 3.9 percent in the first half of the year, according to the flash report of the Hungarian Central Statistical Office (KSH), published earlier this morning. Thus, wages in real terms have been on the rise for two-and-a-half years in Hungary. In comparison to June 2014, private sector enterprises with at least five employees increased their labour force by 45 thousand people.

Tourism sector expansion unbroken in June 2015

Ministry for National Economy, August 12, 2015 1:18 PM

In June 2015, more than 1 million guests spent 2.5 million tourism nights at Hungarian accommodation establishments. The number of guest and tourism nights grew by 6.7 percent and 4.9 percent, respectively, year-on-year. The volume of guest spending on accommodation was 13 percent higher compared to the same period of the previous year, while accommodation revenues exceeded HUF 20.5bn. Concurrently, occupancy ratios and RevPAR also increased.