Ministry of Finance

Mihály Varga

Minister of Finance

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The costs of holding a bank account to become more transparent

Ministry of Finance, July 16, 2018 2:41 PM

As of the middle of next year, banks are going to be obliged to draw up a list of fees for each type of retail payment account and upload the resulting Terms and Conditions to a comparative data base. The Ministry of Finance has released a draft of the relevant Government Decree for social consultation.

Minister Varga met with Amazon and Boeing managers on the last leg of his US trip

Ministry of Finance, July 16, 2018 1:23 PM

Hungary is determined to maintain strong bilateral relations with the USA; last year, the volume of bilateral trade exceeded USD 5.4bn, Minister of Finance Mihály Varga said when he visited the Amazon headquarters and met with Vice Presidents Susan Pointer and Dave Bozeman in Seattle.

Mihály Varga held talks in the headquarters of Tesla and Paccar

Ministry of Finance, July 12, 2018 3:33 PM

Companies from the USA have been content with Hungary; the fact that more than 1500 US-based enterprises are active in Hungary and they employ some 100 thousand people aptly shows this, Minister of Finance Mihály Varga said after having a meeting in the Tesla headquarters in Fremont as head of a Hungarian business delegation.

Hungary wants to be among the EU’s top five countries where it is worth living and working in

Ministry of Finance, July 12, 2018 10:50 AM

By 2030 Hungary wants to be among the EU’s top five countries where it is worth living and working in, Minister of Finance Mihály Varga said, who held a press conference on the latest session of the National Competitiveness Council in Budapest.

National Competitiveness Council discussed economic strategies at today’s session

Ministry of Finance, July 10, 2018 2:27 PM

The National Competitiveness Council discussed three economic development strategies at the last two meetings, Minister of Finance Mihály Varga said. After a blueprint was presented in June by the Hungarian Chamber of Commerce and Industry, the Council has now debated the strategies of the National Bank of Hungary and the Ministry for Innovation and Technology, he added.

Economic trends also help meet the deficit target

Ministry of Finance, July 6, 2018 11:01 AM

Extra fiscal revenues other than tax revenues also confirm the adequacy of the Government’s economic policy. The growth in expenditures is mainly due to the pre-financing of state- and EU-funded projects. The Ministry of Finance continues to expect economic growth of above 4 percent of GDP and fiscal deficit of 2.4 percent for the year 2018.

Hungary’s economic growth is sustainable

Ministry of Finance, July 5, 2018 3:25 PM

“The growth trajectory is also sustainable according to international feedback, meaning the Hungarian economy is expected to increase by around 4 percent both this year and next year”, Minister of Finance Mihály Varga said on Tuesday on InfoRádió.

Tax authority to supervise data traffic of each vending machine in Hungary

Ministry of Finance, July 2, 2018 10:47 AM

The 1st of July is a milestone in Hungary’s tax history: as of today, the National Tax and Customs Administration will be capable of directly seeing data of large VAT bills and vending machines for food and beverages. Besides improving taxation morale, these two measures are also expected to reduce the country’s tax gap to 10 percent of GDP within the coming years.

Hungary’s unemployment rate hit an all-time low of 3.7 percent in May 2018

Ministry of Finance, June 28, 2018 3:24 PM

Parallel to double-digit income growth driven by, among other factors, the six-year wage agreement, the number of people in employment has also been rising in Hungary. Their number has increased by 750 thousand over the past eight years, Minister of Finance Mihály Varga said, commenting on the latest jobs data released by the Hungarian Central Statistical Office (KSH).

IMF: Next year’s budget and Hungarian economy based on firm foundations

Ministry of Finance, June 28, 2018 12:48 PM

According to the Staff Concluding Statement of the 2018 Article IV Mission, experts of the International Monetary Fund has found Hungary’s macro-economic situation “stable”, the economic growth of 2018 “strong” and the 2019 budget “a step in the right direction”. The IMF delegation visited Budapest on 14-26 June.