Ministry of Finance

Mihály Varga

Minister of Finance

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Hungarian economy’s growth is larger than previously reported

Ministry of Finance, September 5, 2018 11:10 AM

In Q2 2018, Hungary’s GDP grew by 4.8 percent year-on-year, which figure is 0.2 percentage points higher than the preliminary reading was.

Amount of investment in Hungary totalled HUF 3100bn (EUR 9.5bn) in H1 2018

Ministry of Finance, August 30, 2018 2:31 PM

In H1 2018, the volume of investment was up by 13.4 percent year-on-year, rising to a total of HUF 3113bn. Investment was higher in almost every economic sector, and this has also contributed to robust GDP growth. In Q2 2018, the indicator showed growth of 15.3 percent year-on-year (totalling HUF 1 852bn).

Anti-immigration tax to take effect today

Ministry of Finance, August 30, 2018 1:56 PM

In the interest of protecting Hungary – in addition to the border fence, the reinforced protection of the borders and legal border closure – the government has also implemented a new tax policy measure. It has introduced an anti-immigration tax; the relevant provisions are taking effect on 25 August 2018.

4.5 million people have a job in Hungary

Ministry of Finance, August 29, 2018 3:27 PM

The number of people in employment increased by 774 thousand compared to the time when the first cabinet of PM Orbán was formed in 2010. The bulk of growth was registered in the public sector, where the number of new jobs was up by 625 thousand in the same period, Minister of Finance Mihály Varga said, commenting on the latest jobs data released by the Hungarian Central Statistical Office (KSH).

We can build a strong country together

Ministry of Finance, August 23, 2018 8:17 AM

20 August is the celebration of the outstanding performance which manifested itself in the establishment of a new, united, Christian Hungary, Minister of Finance Mihály Varga pointed out at the event held in the City of Eger on the occasion of the national holiday. The Finance Minister attended Holy Mass in the Basilica which was celebrated by Archbishop of Eger Dr Csaba Ternyák.

Real earnings growth trend unbroken for five-and-a-half years now in Hungary

Ministry of Finance, August 22, 2018 3:12 PM

Earnings in real terms have been rising for 66 months now: gross earnings and real earnings were up year-on-year by 11.9 percent and 9.4 percent, respectively, in the first half of 2018, Minister of Finance Mihály Varga said, commenting on the data.

Data show great economic performance in the first half of 2018

Ministry of Finance, August 16, 2018 9:28 AM

Hungary’s economy grew year-on-year by 4.6 percent in the second quarter and by 4.5 percent in the first half of 2018. These data show that Hungary’s economy has switched into a higher gear, thanks mainly to the stimulating effect of the six-year wage and tax agreement.

Economic growth to be reached together with an unchanged fiscal deficit target

Ministry of Finance, August 9, 2018 3:45 PM

In the first seven months of the year, trends which had led to higher budget revenues parallel to tax cuts persisted. Projects aiming to reach social policy targets and investment programmes are set to help achieve economic growth of above 4 percent and a deficit target of 2.4 percent of GDP.

Net earnings up by more than 50 percent since 2012

Ministry of Finance, July 20, 2018 1:11 PM

Net earnings increased by 51 percent over the past six years in Hungary, and earnings in real terms also grew by some 32 percent. Real earnings have been rising steadily for 65 months in Hungary thanks to public sector wage hikes, rising labour demand in the private sector and the six-year wage agreement.

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.