Ministry of Finance

Mihály Varga

Minister of Finance

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Record high foreign trade surplus in Hungary

Ministry of Finance, December 3, 2014 1:04 PM

In September 2014, Hungary’s foreign trade volume continued to increase, as exports and imports were up by 9 percent and 10 percent, respectively. This growth resulted in an unprecedented foreign trade surplus of EUR 939 million, up by EUR 85 million year-on-year. These data were mainly the result of domestic economic expansion, steady output increases within the industrial sector – thanks especially to vehicle manufacturing and related divisions – as well as higher consumption.

Hungary’s GDP up by more than 3 percent in Q3 2014

Ministry of Finance, December 3, 2014 11:26 AM

In the third quarter of this year, Hungary’s GDP grew by 3.2 percent year-on-year – in line with prior estimates. In comparison to the previous quarter, the economy expanded by 0.5 percent. Every sector has contributed to growth and with this result Hungary remains one of the top performers within the EU.

Hungary is one of four EU member states with a steadily declining debt rate

Ministry of Finance, December 1, 2014 1:27 PM

Along with Latvia, Denmark and Austria, Hungary is one of four EU member states where central government debt has been edging lower since 2011. International investors and credit rating agencies have also acknowledged the achievements of the Hungarian economy.

Hungary records largest drop in unemployment within the EU

Ministry of Finance, November 28, 2014 12:56 PM

According to the latest Eurostat data, unemployment fell to 7.3 percent in Hungary. Over the past one year, Hungary recorded the largest fall in unemployment among the EU member states. With regard to these statistics, Hungary has been on the top of EU ranking since February 2014. Unemployment rate averaged 11.5 percent in the 18 member states of the euro zone and 10 percent in the EU28.

Investment volume totalled some HUF 3400bn in Hungary

Ministry of Finance, November 28, 2014 10:29 AM

Dynamic investment growth has continued in Hungary: the 16.3 percent year-on-year increase in Q3 2014 marked the sixth consecutive quarter of growth. In the initial three quarters of the year, Hungary received investment of HUF 3400bn, up by 20 percent over the past one year. These data confirm that investment has contributed to Hungary’s economic growth in an outstanding manner.

Employment rate at a record high and unemployment rate at almost 7 percent

Ministry of Finance, November 27, 2014 9:44 AM

According to the latest report of the Hungarian Central Statistical Office (KSH), the number of people in employment has continued to grow. In the period August-October 2014, the number of people aged 15-74 years in employment increased by 192 thousand to 4 million 184 thousand year-on-year. The fact that the private sector remained an engine of employment growth demonstrates the success of the Government’s employment schemes.

Moody’s turned also positive on Hungarian economic growth

Ministry of Finance, November 26, 2014 11:38 AM

In its annual country report, Moody’s Investors Service formulates a positive view on Hungary’s medium-term economic growth.

Retail sector expanded for the fifteenth consecutive month

Ministry of Finance, November 26, 2014 11:07 AM

Hungary’s retail sales have continued to rise as in September 2014 and in the initial nine months of the year the sector expanded by 4.5 percent and 5.1 percent, respectively, in comparison to data compiled one year ago. Commenting on the latest statistics of the Hungarian Central Statistical Office (KSH), Minister of State for Parliamentary Affairs Béla Glattfelder said that this has been the fifteenth consecutive month when the volume of retail sales increased and this remarkable achievement has also contributed to sound and sustainable economic growth.

OECD upwardly revised Hungary’s economic outlook

Ministry of Finance, November 25, 2014 2:31 PM

Compared to prior expectations, the study of the Paris-based Organization for Economic Cooperation and Development (OECD) released earlier today is more optimistic about the future of the Hungarian economy.

„Danke Ungarn” campaign launched in Germany

Ministry of Finance, November 21, 2014 2:46 PM

The “Danke Ungarn” campaign was launched in Germany on Friday; through continuing the summer campaign, Hungary is highlighting the common history of the two countries and their excellent economic and political relations.