Ministry of Finance

Mihály Varga

Minister of Finance

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Work-free Sundays to fuel tourism and recreation sectors in Hungary

Ministry of Finance, January 28, 2015 1:20 PM

Work-free Sundays open a new window of opportunity for the tourism and recreation sectors by lifting turnover at tourism services providers, Deputy State Secretary for Tourism Ádám Ruszinkó stated at a joint press conference organized by the Ministry for National Economy and several national tourism institutions and associations. He added that recent criticism related to work-free Sundays has focused exclusively on consumers instead of human beings, whereas the economy shall serve people and not vice versa.

Number of people in employment remains above the 4 million mark in Hungary

Ministry of Finance, January 28, 2015 11:16 AM

Positive labour market trends continued in Hungary. In the period October-December 2014, the number of people in employment aged 15-74 years was up by 172 thousand, to 4 million 142 thousand. The unemployment rate has been around 7 percent over the past months and currently it is at 7.1 percent. Steady private sector employment growth has been gaining weight as a factor behind the favourable trend.

Quality shall be bolstered in tourism

Ministry of Finance, January 27, 2015 3:16 PM

Minister of State for Economic Regulation Béla Glattfelder said that the Hungarian tourism sector must strive for quality in order to maintain the record-breaking performance of the division. The Minister of State delivered his speech at the 10th presentation ceremony of the Hungarian Tourism Quality Award in Budapest.

Awards for successful enterprises presented for the month of December 2014

Ministry of Finance, January 23, 2015 3:04 PM

The ECB asset purchase programme announced on Thursday will help Europe, especially the Eurozone, to enter a growth phase and the expansion of European markets will also be beneficial from the aspect of the Hungarian economy and Hungary’s export volume, Minister for National Economy Mihály Varga said at the ceremony for presenting the December Awards for Successful Enterprises in Budapest.

The Hungarian model has been working

Ministry of Finance, January 22, 2015 4:09 PM

The Hungarian model has been proven to be effective, Minister for National Economy Mihály Varga said at the conference organized by business daily Világgazdaság in Budapest.

23rd consecutive month of higher wages

Ministry of Finance, January 21, 2015 11:18 AM

The Hungarian Central Statistical Office (KSH) reported earlier today that in November 2014 and in January-November 2014 wages in real terms were up by 1.8 percent and 2.9 percent, respectively, within the national economy. Thus, the positive wage growth trend has been unbroken for twenty-three months in a row.

Hungary spared HUF 1000bn of extra debt

Ministry of Finance, January 21, 2015 10:44 AM

Thanks to Government measures aimed at cutting foreign currency denominated debt, Hungary has been spared HUF 1000bn of extra liabilities, the Minister for National Economy said on public television M1 earlier this morning.

Several countries show interest in the Hungarian fixed exchange rate scheme

Ministry of Finance, January 19, 2015 4:23 PM

The governments of several Central European countries have requested Hungary’s Ministry for National Economy (NGM) to provide more information on the Hungarian model for phasing out forex loans.

Fixing forint exchange rates was the right decision

Ministry of Finance, January 15, 2015 2:54 PM

The step taken today by the Swiss National Bank (SNB) has confirmed that Government measures aimed at lowering Hungary’s forex debt burden have been relevant. The SNB measure triggered extreme exchange rate volatility on forex markets and the Forint depreciated significantly vis-á-vis the Franc.

Lower prices in 2014

Ministry of Finance, January 14, 2015 10:55 AM

Inflation rate in the year 2014 was -0.2 percent – in line with the preliminary estimate of the Ministry for National Economy -- as consumer prices were also down in December. Besides families, pensioners are the main beneficiaries of low inflation, as the purchasing power of both wages and pensions increased.