Ministry of Finance

Mihály Varga

Minister of Finance

Results per page 10

Hungarian Outlook

Tourism became a key driver of Hungary’s economic growth

Ministry of Finance, September 13, 2018 4:07 PM

The tourism sector has been gaining weight within the Hungarian economy; the sector’s performance has been improving steadily since 2013. According to the Hungarian Central Statistical Office (KSH), in 2017 the gross value added of the accommodation services and catering sector increased by 7.4 percent at constant prices, which pace of growth exceeded that of the country’s overall GDP. The latest relevant data published earlier this week show that the positive trend continued this year: in the period January-July 2018, the number of tourism nights at accommodation establishments was up by 4.3 percent and gross revenues at these facilities increased by 8.6 percent year-on-year.

Hungarian economy continues to be characterized by robust investment activity

Ministry of Finance, September 6, 2018 4:08 PM

According to a flash report published by the Hungarian Central Statistical Office (KSH) last week, in Q2 2018 the volume of investment within the national economy continued to increase: it gained 15 percent year-on-year. The altogether 13 percent increase registered in the first half of 2018 resulted in a total investment volume of HUF 3113bn in the observed period. Investment was higher across almost the entire Hungarian economy.

The volume of retail sales continued to rise in Hungary

Ministry of Finance, August 30, 2018 4:41 PM

The volume of sales in the retail sector has been rising for the fifth consecutive year. The main factors behind the positive trend were growing domestic purchasing power, rising real earnings and Government measures which had facilitated these trends.

Dynamic GDP growth reflects robust economic performance in Hungary

Ministry of Finance, August 24, 2018 8:59 AM

According to the latest flash report of the Hungarian Central Statistical Office (KSH), Hungary’s GDP grew by above 4 percent also in the second quarter of 2018. The rate of growth significantly exceeds that of the EU average.

The volume of industrial output continued to rise in Hungary

Ministry of Finance, August 16, 2018 10:38 AM

According to the latest report by the Hungarian Central Statistical Office (KSH), the industrial sector continued to expand in June 2018: the volume of output increased by 4.2 percent year-on-year. Working day-adjusted data show growth of 3.1 percent.

Volume of external trade on the rise in recent years

Ministry of Finance, August 9, 2018 10:35 AM

External trade plays a key role within the Hungarian economy: the trade-to-GDP ratio is one of the highest within both the European Union and the OECD member states. This is one of the findings in a recently published comprehensive study by the Hungarian Central Statistical Office (KSH) which presents some major characteristics of Hungary’s external trade sector through the analysis of trade turnover observed last year. Last week, the KSH also published the latest respective data for the period January-May 2018 which indicate that favourable trends have continued.

Positive trends in Hungary’s tourism sector

Ministry of Finance, August 2, 2018 4:03 PM

According to the latest data published by the Hungarian Central Statistical Office (KSH), the boom observed in Hungary’s tourism sector over recent years has continued. The number of tourism nights by both domestic and foreign guests grew dynamically in May 2018 compared to the corresponding period of the previous year.

Robust earnings growth trend remained unchanged

Ministry of Finance, July 26, 2018 4:00 PM

According to the latest data compiled by the Hungarian Central Statistical Office (KSH) in May 2018, net earnings have increased by more than 50 percent since 2012 in Hungary. Earnings in real terms have also been up sharply: they have gained 32 percent.

Hungary’s construction sector output continued to rise

Ministry of Finance, July 20, 2018 11:05 AM

According to the latest data by the Hungarian Central Statistical Office (KSH), in the period January-May 2018 the performance of the construction sector has improved further after it had posted dynamic output growth last year. Unadjusted data show output increase of 15.1 percent year-on-year, while data adjusted for seasonal and calendar effects show growth of 6.1 percent in the observed period.

Positive unemployment and employment trends show no sign of weakening

Ministry of Finance, July 12, 2018 5:22 PM

Unemployment may continue to decline in coming months, as this year and next the Government is seeking further options for boosting job growth, Minister of Finance Mihály Varga said, commenting on the latest data released by the Hungarian Central Statistical Office (KSH). These data show that in the period March-May 2018 the unemployment rate continued to rise and the number of people in employment decreased again compared to the corresponding period of the previous year.