Ministry of Finance

Mihály Varga

Minister of Finance

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Hungarian economy continues to expand dynamically

Ministry of Finance, August 14, 2019 1:22 PM

The government’s measures seeking to boost the economy are a success; also in the second quarter of 2019, the performance of the Hungarian economy grew dynamically, by 5.1 per cent, Finance Minister Mihály Varga stated at a press conference.

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.

Measures adopted by the government have contributed to rise in wages

Ministry of Finance, July 30, 2019 6:55 PM

Measures adopted by the government, including tax reductions and the agreement concluded by the government and the private sector on minimum wages and guaranteed wage minimums, have contributed to the rise in wages.

Net wages have increased by more than 84 per cent since 2010

Ministry of Finance, July 30, 2019 1:03 PM

In Hungary since 2010, net wages have increased spectacularly, by more than 84 per cent, family tax benefits included. As a result, parallel with employment, wages, too, are rising meaningfully in our country which improves the financial situation of Hungarian families.

Employment rate at 70 percent

Ministry of Finance, July 29, 2019 6:46 PM

The rate of employment in Hungary has reached 70 percent, while the unemployment rate has not been as low since the 1989 regime change. The 3.3 percent rate of unemployment means Hungary has the 4th most favourable rate of unemployment in the European Union (in a tie with Malta).

500 billion forints in tax cuts to be realised over the next 18 months

Ministry of Finance, July 29, 2019 6:45 PM

“500 billion forints (EUR 1.53 billion) in tax cuts will be realised over the next one and a half years, which will make the lives of entrepreneurs and private individuals significantly easier”, State Secretary for Tax Affairs Norbert Izer from the Ministry of Finance said at a press conference in Budapest on Monday.

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.

Two further points of economy protection action plan have taken effect

Ministry of Finance, July 24, 2019 11:11 AM

As part of the economy protection action plan announced in May, two measures took effect on Wednesday. With the cancellation of the obligation of tax advance replenishment, the administration of businesses will become even simpler, while with the extension of the development tax benefit more projects could be implemented in Hungary.

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.