Ministry of Finance

Mihály Varga

Minister of Finance

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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.

The fair and flexible distribution of resources is required within EU crisis management

Ministry of Finance, July 10, 2020 3:08 PM

“According to Hungary’s position, the EU recovery package aimed at rebooting the economy must be equitable, flexible, and free from politics. For this reason, it is incomprehensible that disproportions may be noticed in the case of certain countries with relation to the mitigation of damages and the drawing up of the principle for funding”, Minister of Finance Mihály Varga emphasised today at a videoconference meeting of EU finance ministers.

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.

Mihály Varga signs job-creating strategic partnership agreement

Ministry of Finance, July 9, 2020 11:09 AM

“MMXH Ltd. will be establishing new home furnishing stores and an 8.2-billion-forint (EUR 23 million) logistics centre in Hungary, as a result of which 500 new workplaces will be created”, Minister of Finance Mihály Varga announced. The Minister and Managing Director of MMXH András Simonyi concluded a strategic partnership agreement that will contribute to the more rapid rebooting of the Hungarian economy.

Hungary will also be self-sufficient with relation to PPE equipment

Ministry of Finance, July 9, 2020 10:17 AM

“The Hungarian government is launching a funding program with a budget of fifty billion forints (EUR 140.7 million) for the development of healthcare production capacities”, Minister of Finance Mihály Varga announced in a video posted to his social media page.

The central budget continues to fully cover the costs of epidemiological preparedness and economy protection measures

Ministry of Finance, July 8, 2020 3:40 PM

The budget, as it did during the state of emergency and continues to do during the period of epidemiological preparedness, is fully providing the resources required for protecting against the coronavirus pandemic and the rebooting of the economy.

The new tax regulations are leaving almost a billion euros-a-year with families, the public and enterprises

Ministry of Finance, July 1, 2020 4:58 PM

Four types of tax contribution are being merged on 1 July 2020, in addition to which the rate of social contribution tax will also be falling to 15.5 percent and all working pensioners will be exempt from paying contributions from Wednesday.

The development of financial awareness will also help the financial security of families

Ministry of Finance, June 30, 2020 12:35 PM

The latest international comparative report by the Organisation for Economic Co-operation and Development (OECD) has been published, examining the financial awareness of 26 countries, including Hungary.

Government to make itemised small business tax (KATA) regulations fairer

Ministry of Finance, June 29, 2020 1:23 PM

“The government will be making the regulations relating to the itemised small business tax (KATA) fairer”, the Ministry of Finance’s State Secretary for Tax Affairs said in an interview for Hungarian daily Magyar Nemzet.

Working pensioners to receive an additional ten billion forints from 1 July

Ministry of Finance, June 29, 2020 1:12 PM

“Beginning on 1 July, the favourable tax regulations will become valid for all working pensioners, and accordingly they will not have to pay health insurance contributions or pension contributions. The reduction in tax burdens could leave a total of ten billion forints (EUR 28 million) in the pockets of those affected during the remaining six months of this year”, the Ministry of Finance’s Parliamentary State Secretary András Tállai said in a statement to Hungarian news agency MTI.