Ministry of Finance

Mihály Varga

Minister of Finance

Leading news

Budget in line with prior expectations

Ministry of Finance, June 24, 2019 11:41 AM

Favourable economic trends experienced hitherto and expected for the future guarantee fiscal balance and stability. Including a deficit of HUF 137.4bn in the month of May, the central sub sector of the state budget closed the period January-May 2019 with a deficit of HUF 176.4bn, corresponding to 17.7 percent of the annual deficit target. The ESA full-year deficit target of 1.8 percent of GDP will be attainable.

The goal of the 2020 budget is to protect the economic results achieved so far

Ministry of Finance, June 19, 2019 8:36 PM

“In addition to supporting families, the 2020 budget is also about protecting the economic results achieved so far and continuing tax reductions”, Minister of Finance Mihály Varga said on Wednesday in Parliament.

The performance of the Hungarian economy regularly exceeds expectations

Ministry of Finance, June 17, 2019 2:07 PM

“Hungary’s budget bill for next year will continue to provide a calculable environment for the participants of the Hungarian economy, and calculates with a target deficit of one percent, a one percent reserve a four percent growth”, Minister of Finance Mihály Varga emphasised at a meeting of European Union finance ministers (the Economic and Financial Affairs Council, Ecofin) in Luxembourg.

No agreement on the final framework for the eurozone budget

Ministry of Finance, June 14, 2019 12:53 PM

“Only a partial agreement was arrived at concerning the establishment of a eurozone budget”, Minister of Finance Mihály Varga declared following a session of the Eurogroup.

529 billion forints of the new government bond were purchased in the first week

Ministry of Finance, June 13, 2019 12:49 PM

“The Hungarian Government Bond Plus is successful and popular; over 500 billion forints (EUR 1.55bn) worth of bonds were purchased during the first week of issue. This is the highest ever figure for first-week trading on the market”, Minister of Finance Mihály Varga said in a statement to Hungarian news agency MTI.

The Economy Protection Action Plan also supports investment

Ministry of Finance, June 11, 2019 12:50 PM

“The Government is continuing its investor-friendly economic policy, as served by both the 2020 budget and certain measures of the Economy Protection Action Plan”, Minister of Finance Mihály Varga declared at a business forum organised by the American-Hungarian Chamber of Commerce.

Construction of Budapest–Belgrade railway line could begin soon

Ministry of Finance, June 7, 2019 10:21 AM

On behalf of the Government of Hungary, the Ministry of Finance submitted a credit request to the China Exim Bank with respect to the construction of the Hungarian section of the Budapest-Belgrade railway line, Finance Minister Mihály Varga announced.

The Government’s goal is to protect the results that the economy has achieved to date

Ministry of Finance, June 6, 2019 3:17 PM

“The Government’s goal is to protect the results that the economy has achieved to date; the economy grew by 5.3 percent in the first quarter of this year, but according to certain international forecasts the economic growth of the global economy and the eurozone are both experiencing a slowdown, and this is why the Government has drawn up the Economy Protection Action Plan”, Minister of Finance Mihály Varga said at his annual hearing before Parliament’s Economic Committee on Wednesday.

New government securities for members of the public ‘Hungarian Government Securities Plus’ available for subscription from 3 June

Ministry of Finance, June 6, 2019 11:26 AM

The latest government securities intended for members of the public issued under the name Hungarian Government Securities Plus – which will offer higher gains than any other government securities in the past – will be available for subscription from 3 June 2019, Finance Minister Mihály Varga announced.