Ministry for National Economy

Mihály Varga

Minister for National Economy

Leading news

Management of public finances to safeguard economic growth

Ministry for National Economy, June 22, 2017 1:15 PM

The continuous development and efficiency-focused updating of the control mechanisms of public finances is a prerequisite of stable public finance management, Minister of State for Public Finances Péter Benő Banai said at the opening ceremony of the Public Internal Control Conference initiated by the European Commission’s Directorate-General for Budget in Budapest.

Wages in real terms up by more than 9 percent at the beginning of 2017

Ministry for National Economy, June 21, 2017 11:18 AM

The increase of wages has picked up in the first four months of 2017, as gross and net wages grew by some 12 percent year-on-year, data compiled by the Hungarian Central Statistical Office (KSH) show, Minister for National Economy Mihály Varga said. Thanks to subdued inflation, wages in real terms increased by 9.2 percent in the observed period, and thus an upward wage trend has been in place for 52 consecutive months.

Health economy is gaining economic weight

Ministry for National Economy, June 20, 2017 3:26 PM

Fostering economic and financial relations with China has been a priority for Hungary in recent years. One of the cornerstones of this policy has been cooperation in the health economy, Minister for National Economy Mihály Varga said at the “Gateway to Health” conference and exhibition, organized jointly by China and the CEE countries. The progress achieved within the health economy means that people become healthier, economic growth accelerates and Hungary’s competitiveness improves, he stressed.

Hungary joins Asian Infrastructure Investment Bank (AIIB)

Ministry for National Economy, June 16, 2017 1:01 PM

Hungary has joined the Asian Infrastructure Investment Bank as the documentation process had been finalized and the initial capital instalment had been transferred to the institution, Minister for National Economy Mihály Varga said, following the annual general meeting of the Beijing-based financial institution held in South-Korea.

2018 to be a year of families and people who earn their living from work

Ministry for National Economy, June 16, 2017 11:22 AM

Next year’s budget will serve people who earn their living from work, and it will improve living conditions and bolster the financial security of families, Minister for National Economy Mihály Varga said at a press conference that followed the final vote on the 2018 Budget.

Lower taxes and a lower bureaucratic burden in 2018

Ministry for National Economy, June 14, 2017 2:07 PM

Tax reductions are to leave HUF 260bn at families, households and enterprises, Minister for National Economy Mihály Varga said, after the National Assembly had adopted the tax package accompanying the 2018 Budget.

Fostering relations with the State of Indiana is a priority

Ministry for National Economy, June 14, 2017 1:25 PM

Earlier today, Minister for National Economy Mihály Varga met with Indiana Governor Eric J. Holcomb and Indiana Secretary of Commerce Jim Schellinger to discuss economic cooperation options. At the event, the Minister said Hungary was working on bringing even more investment-seeking Indiana companies here, thus further bolstering bilateral economic relations.

Hungarian innovations at the Astana EXPO

Ministry for National Economy, June 12, 2017 11:25 AM

Participation at the Astana EXPO is not only an instrument for bolstering Hungary’s economic development but also for reinforcing Hungarian-Kazakh relations, Minister for National Economy Mihály Varga said at the opening of the Hungarian pavilion at the EXPO. This event provides an excellent opportunity for presenting Hungary’s innovations concerning future energy resources, he added.

Cooperation with Central Asia may become a priority within the entire Visegrad Four region

Ministry for National Economy, June 12, 2017 11:24 AM

Hungary is working to bolster relations not only on a national level but also within the Visegrad Four; therefore the Hungarian Government has initiated the establishment of a V4 cooperation platform, Minister for National Economy Mihály Varga stated, following talks with Foreign Minister Kairat Abdrakhmanov. A forum to this end is set to be organized as soon as during the Hungarian presidency as of 1 July.