Ministry of Finance

Mihály Varga

Minister of Finance

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Unprecedented GDP Growth in Hungary in the Past Eight Years

Ministry of Finance, September 3, 2014 2:13 PM

The Gross Domestic Product has never increased in Hungary at the rate recorded in the second quarter of 2014. As the preliminary data indicated, the Hungarian economy expanded by 3.9%, which represents a growth rate of 0.8% in relation to the previous quarter. The way in which we managed to maintain a balanced budget alongside recording growth is particularly favourable, i.e., the budget deficit is consistently below 3%. The Hungarian economy is performing exceptional well in EU, as well as regional comparison. Hungary's economy grew at the fastest pace in the EU in relation to the same period of the previous year.

160,000 new jobs, predominantly in the private sector

Ministry of Finance, August 28, 2014 9:49 AM

According to new data published on Wednesday by the Central Statistical Office, 160 thousand more people were in employment in May-July than in the same period last year. The vast majority of these new jobs were created within the private sector, in view of the fact that the number of migrant workers and people employed in public work programmes did not increase significantly during that time, the Ministry of National Economy’s Minister of State for the Labour Market and Training Sándor Czomba said on Wednesday.

Government considers assistance for car loan holders

Ministry of Finance, August 22, 2014 11:20 AM

The Government will decide in the autumn on whether to include foreign-currency car loans in the forint conversion relief scheme, Minister of National Economy Mihály Varga said late on Thursday.

Minister Varga on Russian embargos

Ministry of Finance, August 21, 2014 2:03 PM

Russian embargo moves should be monitored in order to ease their impact on the Hungarian economy, Minister for National Economy Mihály Varga said on Thursday.

Ministry for National Economy raises 2014 GDP forecast to 3.1 percent

Ministry of Finance, August 18, 2014 5:50 PM

The Ministry for National Economy raised its full-year GDP forecast for 2014 to 3.1 percent, Minister Mihály Varga said on Monday.

Hungary’s GDP grew by almost 4 percent in Q2 2014

Ministry of Finance, August 14, 2014 12:04 PM

In Q2 2014, Hungary’s GDP was up by 3.9 percent in comparison to the corresponding period of the previous year, the Hungarian Central Statistical Office (KSH) reported on the basis of preliminary data. This has been the highest quarterly GDP growth figure since Q1 2016. Compared to Q1 2014, GDP increased by 0.8 percent.

Industrial sector continues to deliver excellent results

Ministry of Finance, August 13, 2014 11:46 AM

Adding to the outstanding performance registered in the previous month, industrial output growth in June 2014 increased by 11.3 percent year-on-year. In the initial six months of the year, output was 9.4 percent higher in comparison to the corresponding period of the previous year. Compared to the previous month, industrial output adjusted for seasonal and workday effects was up by 1.8 percent in June.

The number of mothers with small children returning to work increased by one-third

Ministry of Finance, August 11, 2014 12:52 PM

According to data of Q2 2014 compiled by the Hungarian Central Statistical Office (KSH), the number of women who returned to work after they had received maternity benefits and childcare allowance or had been stay-home mothers was up by 37 percent year-on-year, former Ministerial Commissioner Piroska Szalai, responsible for improving the labour market prospects of women, announced in a press release.

The deficit of the central sub sector of the state budget in the period January-July 2014 is equal to the shortfall in the corresponding period of the previous year

Ministry of Finance, August 7, 2014 4:00 PM

The deficit of the central sub sector of the state budget was HUF 851.4bn in January-July 2014. Within that amount, the deficit of the central government budget and Social Insurance Funds was HUF 1031.1bn and HUF 134.2bn, respectively, while Extrabudgetary Funds posted a surplus of HUF 45.5bn.

Hungarian baths had 31 million guests last year

Ministry of Finance, August 4, 2014 3:09 PM

Last year, the number of visitors at the 200 most significant Hungarian baths frequented also by tourists was some 31 million and development projects related to these are to be continued in the coming EU fiscal period, Deputy State Secretary for Tourism Viktória Horváth said at a press conference held in Budapest.