Ministry of Finance

Mihály Varga

Minister of Finance

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Increasing tax revenues guarantee stability of state finances

Ministry of Finance, November 9, 2018 1:36 PM

Thanks to measures implemented with a view to making the economy more transparent and the high rate of economic growth, this year has been characterised by continuously rising tax revenues.

Hungary and the United States sign new tax treaty

Ministry of Finance, October 26, 2018 10:50 AM

Relations between Hungary and the United States are characterized by mutual respect, constant dialogue and cooperation, Minister of Finance Mihály Varga said after he had received earlier today US Ambassador to Hungary David B. Cornstein in his office. At the meeting, the Minister was quoted as saying that both Governments shared the same opinion with respect to international tax evasion and the international financing of terrorism: both required more efficient counter measures.

Switzerland has also preserved the memory of the 1956 revolution

Ministry of Finance, October 19, 2018 1:44 PM

“The revolution and freedom fight of 1956 is a part of our history that has been living with us ever since: it is still present in our decisions, our faith in the unity of Hungarians and our perceptions of the world”, Minister of Finance Mihály Varga said at an event organized by the Hungarian Embassy in Switzerland to commemorate the 62th anniversary of the 1956 revolution in Bern.

Minister Varga received US business delegation

Ministry of Finance, October 19, 2018 12:32 PM

Economic relations between Hungary and the United States are instrumental for the steady improvement of Hungary’s economic performance, Minister of Finance Mihály Varga said at a meeting with the US-Hungary Business Council (USHBC) delegation headed by President Eric Stewart.

Earnings in real terms up by 9 percent in January-August 2018

Ministry of Finance, October 19, 2018 10:41 AM

Earnings in real terms increased by 9 percent in the period January-August 2018, fuelling household income growth, which in turn has improved the finances of Hungarian families. The positive trend in real earnings growth has been unbroken for the 68th consecutive month, thanks to the six-year wage agreement, public sector career models and private sector wage hikes.

Wages were raised and taxes were cut significantly in 2017

Ministry of Finance, October 18, 2018 3:27 PM

Wages were raised and taxes were cut significantly in 2017; the pace of economic growth has accelerated and it is having an impact on families, enterprises and every Hungarian, Minister of Finance Mihály Varga said at the parliamentary debate concerning the bill on the execution and discharge of the state budget.

Hungary advanced 12 places on World Economic Forum competitiveness ranking

Ministry of Finance, October 18, 2018 12:56 PM

Hungary is currently the 48th on the new competitiveness ranking of the World Economic Forum (WEF), well ahead of rank 69 the country had in 2016 and rank 60 in 2017. This improvement reflects the trend reversal in Hungary’s competitiveness, a fact which has come to be acknowledged – after market players and credit rating agencies – also by the majority of research papers.

Everybody gains if financial awareness is improved

Ministry of Finance, October 15, 2018 2:28 PM

One learns all his life how to prudently manage his finances, and the state is responsible for improving the financial awareness of people, Minister of Finance Mihály Varga said at the inauguration of the Fintelligence Financial Education Centre of the University of Debrecen. That is why the Government has launched, the Minister added, the National Financial Awareness Development Strategy.

The number of Hungarian enterprises active on Asian markets set to increase

Ministry of Finance, October 12, 2018 11:17 AM

The International Monetary Fund and the World Bank Group have come to acknowledge the achievements of Hungary’s economic policy. The fact that the IMF has recently revised upward the country’s growth estimate reflects this recognition, Minister of Finance Mihály Varga said. The Minister represents Hungary as head of the Hungarian delegation at the Annual Meeting of the IMF and the World Bank Group in Bali, Indonesia.

IMF revised upward Hungary’s growth estimate again

Ministry of Finance, October 9, 2018 10:29 AM

Compared to the previous expectations published in July the latest World Economic Outlook shows a 0.2 percentage points higher growth rate for this year and a 0.3 percentage points higher rate for next year. Accordingly, Hungary’s GDP growth is expected at 4 percent for 2018, which rate is roughly in line with the Government’s estimate.