Ministry of Finance

Mihály Varga

Minister of Finance

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Award for Successful Enterprises presented for the month of May

Ministry of Finance, June 16, 2014 2:12 PM

Minister for National Economy Mihály Varga presented the “Investor of the Month” award to LEGO Manufacturing Ltd; while Kürt Plc was awarded the “SME of the Month” title, and in the category of “Startup of the Month” the Minister handed the award to QuantisLabs Ltd at a ceremony held in the building of the Ministry for National Economy in Budapest.

Franklin Templeton Executive Vice President’s view of Hungary’s economy

Ministry of Finance, June 16, 2014 11:44 AM

In a video shared on Youtube, Michael Hasenstab, the Executive Vice President of investment fund Franklin Templeton’s International Bond Department made upbeat comments on the Hungarian economy. Templeton is the largest foreign holder of Hungarian state bonds.

Steady industrial output growth in Hungary

Ministry of Finance, June 12, 2014 10:57 AM

In the month of April, almost every manufacturing sector performed better and in the initial four months of 2014 industrial sector output was higher in each and every Hungarian region. Accordingly, industrial growth was sound from a geographical and structural aspect. In light of detailed data from April 2014, industrial output was up by 10.1 percent year-on-year.

Economy Minister Varga: we are building a strong and competitive economy

Ministry of Finance, June 12, 2014 10:16 AM

The Ministry for National Economy (NGM) is aiming to build a strong and competitive economy which brings success and opportunities for everyone, Mihály Varga said at a press conference where he introduced his Ministers of State.

Tourist traffic soared by more than 20 percent year-on-year in Hungary

Ministry of Finance, June 10, 2014 1:43 PM

In April 2014, double-digit growth was recorded concerning the number of guests and tourism nights as well as revenues at accommodation establishments. Domestic tourism also increased dynamically: the number of tourism nights by domestic guests soared by 21.9 percent, while respective revenues jumped by 25.6 percent compared to April 2013. In the opinion of the Ministry for National Economy, the upward domestic tourism trend, which has been in place for several years now and which has continued this year, has bolstered and reinforced the tourism sector and it has also mitigated the still very pronounced seasonal fluctuation.

Kazakhstan is Hungary’s strategic partner in Central Asia

Ministry of Finance, June 5, 2014 4:24 PM

Last year, Kazakhstan was the third largest trading partner of Hungary within the Commonwealth of Independent States, with a total trade volume exceeding USD 261 million and up by 6.5 percent compared to last year. Within the above amount, the value of Hungarian exports was USD 210 million, signalling an increase of 34.3 percent year-on-year, Minister for National Economy Mihály Varga said at the press conference following the fourth session of the Inter-Governmental Committee (IGC) on Hungarian-Kazakh Economic Cooperation.

Hungary’s GDP up by 3.5 percent in Q1 2014

Ministry of Finance, June 4, 2014 3:33 PM

In Q1 2014, Hungary’s GDP increased by 3.5 percent year-on-year. Quarter-on-quarter, the economy expanded by 1.1 percent. In international comparison, Hungary’s quarter-on-quarter growth was – along with Poland’s – the highest within the European Union. Final data are in line with preliminary statistics.

Investment growth hits record high

Ministry of Finance, June 4, 2014 1:19 PM

In Q1 2014, the volume of investment increased by 22.6 percent year-on-year. Whereas the 15 percent growth in the previous quarter was a ten-year record high, current data show an unprecedented increase. As all major economic sectors have contributed to the steady improvement which has been observed in the past four quarters, it can be concluded that Hungarian economic growth has been placed on a sound footing.

Exporters had a great start in the new year

Ministry of Finance, June 4, 2014 1:17 PM

In light of Q1 2014 data, the value of exports to international markets totalled EUR 20.8bn in the observed period. Foreign buyers purchased mainly products of the vehicle manufacturing, machinery manufacturing and food industry.