Ministry of Finance

Mihály Varga

Minister of Finance

Leading news

Budget closed the month of July with a surplus

Ministry of Finance, August 8, 2019 2:00 PM

As a result of the Government policy aiming for job growth and tax reductions as well as economic performance, the state budget closed the month of July with a surplus of HUF 37.2bn (EUR 114 million). Accordingly, the deficit of the central sub sector totalled HUF 352.7bn in the period January-July 2019, which constitutes 35.5 percent of the full-year deficit target. The target of 1.8 percent of GDP continues to be attainable.

New Hungarian brands must be built

Ministry of Finance, July 26, 2019 11:34 AM

On Thursday at a roundtable discussion held on the topic of competitiveness in Tusnádfürdő, Finance Minister Mihály Varga urged the building of new Hungarian brands.

Hungarian online solutions could whiten economy in Saudi Arabia as well

Ministry of Finance, July 18, 2019 1:50 PM

There is more and more interest in Hungarian inventions aimed at the whitening of the economy. The thorough studying of these solutions was in the focus of the three-day Budapest visit of a high-level delegation consisting of executives of the Saudi Arabian tax authority. The visit ended on Wednesday, Norbert Izer, Minister of State for Tax Affairs informed the Hungarian news agency MTI.

More and more Hungarian businesses can access US markets

Ministry of Finance, July 15, 2019 9:09 PM

Relations between Hungary and the United States are improving also in the areas of the economy and finances, Finance Minister Mihály Varga pointed out after he received US Ambassador to Budapest David B. Cornstein in his office.

2020 budget is about protection of families and economic achievements

Ministry of Finance, July 12, 2019 8:59 PM

The adoption of the 2020 budget shows that the vast majority of Members of Parliament agree with the continuation of an economic policy that is based on the strengthening of families, the protection of the economic results achieved, the maintenance of the country’s security and pay rises.

Acknowledgement of results of Hungarian economy

Ministry of Finance, July 13, 2019 10:10 AM

It has been proved again that the performance of the Hungarian economy exceeds international expectations, Finance Minister Mihály Varga said after his meeting with Pierre Moscovici, the European Commission’s departing Commissioner for Economic and Financial Affairs, Taxation and Customs. The Finance Minister said in its latest analysis the European Commission itself acknowledges that the Hungarian economy could continue to expand at a rate above the EU average, and by considerably upgrading its earlier projection, it has increased its estimate regarding Hungary’s GDP growth for this year to 4.4 per cent.

Hungarian economy is performing above EU average, criticisms are political

Ministry of Finance, July 10, 2019 11:03 AM

There are unfounded claims in the EU’s recommendations regarding Hungary. It is regrettable that the European Union’s activities related to the management of the economy are watered down with politically debatable topics that are irrelevant to the subject in hand, Finance Minister Mihály Varga stated at the Brussels meeting of EU finance ministers (Ecofin).

Eurozone budget: Member States are divided by issue of funding

Ministry of Finance, July 9, 2019 12:21 PM

Consultations regarding the establishment of a Eurozone budgetary instrument are ongoing even after the EP elections as Member States have to date failed to reach an agreement on a number of material issues; issues which divide them the most, Finance Minister Mihály Varga said after the extended meeting of the finance ministers of the countries using the euro (Eurogroup). Hungary continues to insist that the new instrument cannot withdraw funds from non-Eurozone countries and cannot jeopardise the financing of other budgetary goals, the Hungarian minister added.

Sales of the new Hungarian Government Bond Plus exceed 1000 billion forints

Ministry of Finance, July 3, 2019 9:08 AM

Sales of the new Hungarian Government Bond Plus sovereign bond have exceeded 1000 billion forints (EUR 3.1 billion), Minister of Finance Mihály Varga announced on his Facebook page.