Ministry of Finance

Mihály Varga

Minister of Finance

Leading news

Successful whitening of economy covered a large part of the costs of protective measures related to epidemic

Ministry of Finance, August 27, 2020 1:15 PM

In the past ten years, Hungary has regained its financial sovereignty which required the elimination of the black economy and the extra state revenues in the magnitude of tens and hundreds of billions of forints arising therefrom, the Parliamentary State Secretary of the Ministry of Finance told the newspaper ‘Magyar Nemzet’.

Consolidation could begin as early as next year

Ministry of Finance, August 27, 2020 1:11 PM

This year, the deficit of the budget to GDP could be somewhere between 7 and 9 per cent, Minister of State at the Ministry of Finance Péter Benő Banai said on Kossuth Radio’s programme ‘Good morning, Hungary’ on Tuesday. He added that consolidation, however, could start as early as next year.

The budget is continuing to fully provide the resources required for protecting against the epidemic

Ministry of Finance, August 25, 2020 12:45 PM

Although economic recovery has already begun, the rebooting of the economy following the state of emergency continues to require major resources from the budget. The government’s intent is to provide all possible assistance to Hungarian enterprises, and to create at least as many jobs as are eliminated by the epidemic.

Tax concession for sectors most affected by the coronavirus epidemic protected the jobs of 191 thousand people in June

Ministry of Finance, August 12, 2020 4:37 PM

The economic recovery has already begun, as also indicated by the application of the tax concessions relating to sectors that have been most adversely affected by the epidemic.

Hungary’s epidemiological and economy protection measures are sensational

Ministry of Finance, August 5, 2020 12:01 PM

“Hungary is not only amongst the world’s frontrunners based on the results it has achieved within the field of epidemiological protection, but it is also performing outstandingly to combat the damaging economic effects of the coronavirus pandemic. In addition to bank debtors, the economy protection measures the government has introduced during the coronavirus crisis have helped some one million employees, hundreds of thousands of enterprises and over ten thousand university students”, the Ministry of Finance’s Parliamentary State Secretary, András Tállai informed Hungarian news agency MTI.

Over seven billion forints in funding for green enterprises

Ministry of Finance, August 3, 2020 2:07 PM

“A tender with a budget of 7.3 billion forints (EUR 21.15 million) has been published to facilitate the development of the Hungarian green economy. Applications may be submitted from 31 August 2020”, Minister of Finance Mihály Varga said in a statement to Hungarian news agency MTI.

Sixty billion forints for fight against epidemic

Ministry of Finance, July 15, 2020 10:37 AM

Hungary has been given access to funds worth sixty billion forints for the fight against the epidemic, Finance Minister Mihály Varga announced in a video message posted on his social media account, after he signed an agreement with the Council of Europe Development Bank (CEB). The Finance Minister said the preferential funding is available, among others, for the procurement of face masks, medicines, test kits, disinfectants and intensive care beds.

Over 4 trillion forints in investment in Hungary’s major cities

Ministry of Finance, July 17, 2020 10:30 AM

“Some 4400 billion forints (EUR 12.43 billion) in investment has been realised and is still ongoing in Hungary’s major cities thanks to funding from the government”, Minister of Finance Mihály Varga declared at the general assembly of cities with county rights. “The government will be continuing the Modern Cities Program next year; the 2021 budget is providing the 50 billion forints (EUR 141.2 million) earmarked for this purpose”, the Minister highlighted.

Maintaining the epidemiological preparedness and ensuring economic growth are equally important

Ministry of Finance, July 9, 2020 12:48 PM

The government intends to maintain the epidemiological preparedness and at the same time foster economic growth with the budget of 2021 – the Minister of Finance said on the Sunday Paper show of Kossuth Rádió.