Ministry of Finance

Mihály Varga

Minister of Finance

Leading news

Standard and Poor’s raised Hungary’s credit rating one notch higher once again

Ministry of Finance, February 18, 2019 10:20 AM

Thanks to Hungary’s balanced and stable growth in recent years, Standard and Poor’s raised Hungary’s credit rating one notch higher, Minister of Finance Mihály Varga said, commenting on the latest announcement by the agency.

Financial cooperation is one of the most rapidly growing areas of Hungarian-Chinese relations

Ministry of Finance, February 15, 2019 11:48 AM

Financial cooperation is one of the most rapidly growing areas of Hungarian-Chinese relations, Minister of Finance Mihály Varga said at today’s meeting with Bank of China Vice Chairman Liu Liange.

Hungary maintains the view that tax policies of member states must not be restricted

Ministry of Finance, February 15, 2019 8:29 AM

Hungary continues to oppose proposals aiming to curtail the taxation policy sovereignty of member states, Minister of Finance Mihály Varga said, following the latest Ecofin session in Brussels.

Hungarian economy grew at a higher-than-expected rate of 4.8 percent in Q4 2018

Ministry of Finance, February 14, 2019 1:52 PM

The Hungarian economy’s performance has been improving: the rate of economic growth hit 4.8 percent last year, the highest figure in the past fifteen years, Minister of Finance Mihály Varga said. As growth has been decelerating globally and in the entire European Union, the Government is working to maintain the current growth momentum.

The financing of the Euro-zone budget must not contradict the long-term interests of the European Union

Ministry of Finance, February 13, 2019 9:13 AM

The Eurozone budget must not overlap the existing (financial) instruments and (fiscal) objectives of the European Union, as doing so would exacerbate differences between the regions and jeopardize efforts aiming to bolster the common market, Minister of Finance Mihály Varga said at the latest Eurogroup meeting in inclusive format in Brussels.

International Investment Bank to transfer Headquarter to Budapest

Ministry of Finance, February 5, 2019 1:45 PM

The relocation of the headquarters of the International Investment Bank (IIB) to Budapest will further bolster the role of Hungary and Budapest as an international financial center, Minister of Finance Mihály Varga said after he had signed the related agreement with IIB Chairman of the Management Board Nikolay Kosov.

The Government supports further wage hikes

Ministry of Finance, January 24, 2019 1:57 PM

The Government is working to ensure that the 71-month upward earnings growth trend persists, Minister of State for Employment Policy and Corporate Relations Sándor Bodó said, commenting on the latest earnings data for the period January-November 2018.

The CEE region continues to be the EU’s growth engine

Ministry of Finance, January 22, 2019 10:39 PM

The growth rate of the Central and Eastern European region has been above the EU average, and thus the region may play a key role in boosting economic growth within the European Union.

International Investment Bank’s headquarters to move to Budapest this year

Ministry of Finance, January 18, 2019 10:41 AM

The Hungarian headquarters of the International Investment Bank will open in the second half of 2019, and according to plans the entire headquarters will move to Hungary within two to three years, Finance Minister Mihály Varga said after his talks with Nikolay Kosov, Chairman of the financial institution’s Board.