Ministry of Finance

Mihály Varga

Minister of Finance

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Number of those in employment continues to be above 4 million

Ministry of Finance, June 27, 2014 10:50 AM

According to the flash report of the Hungarian Central Statistical Office (KSH) published this morning, the upward employment trend is unbroken. In March-May 2014, the number of people aged 15-74 years in employment increased by 195 thousand, from 3 million 910 thousand one year ago to 4 million 105 thousand. Accordingly, the employment rate edged up from 51.2 percent to 54 percent. Besides public work programmes, more and more people are employed by the private sector which confirms the effectiveness of the Government’s employment policy.

Government bill on forex loans to be completed already this week

Ministry of Finance, June 26, 2014 1:37 PM

The Government will submit to parliament a bill which translates the Kuria’s resolution for the uniformity of the law into the legal system, Minister for National Economy Mihály Varga announced at a press conference, adding that the Government aims to legally settle the issue of forex borrowers in two steps.

Upward retail sales trend in place for one year and a half

Ministry of Finance, June 25, 2014 10:06 AM

The retail sector continued to grow robustly in the month of April. In comparison to the corresponding period of 2013, the volume of retail sales jumped by 9 percent in April 2014.

Country-specific recommendations by Brussels changed favourably

Ministry of Finance, June 23, 2014 2:08 PM

As far as country-specific recommendations are concerned, Hungary has achieved significant results, Minister for National Economy Mihály Varga stated following an Ecofin session in Brussels. Among others, he said, the Commission omitted from the report their former recommendation on fiscal adjustments totalling 1 percent of GDP.

Ministry for National Economy relaunches student work programme

Ministry of Finance, June 19, 2014 2:32 PM

As of 1 July 2014, the Ministry for National Economy relaunches the summer student work programme this year, within which students aged 16-25 years may obtain work at local governments or their institutions.

Wages in real terms increase by more than 4 percent in April

Ministry of Finance, June 19, 2014 9:43 AM

According to the flash report by the Hungarian Central Statistical Office (KSH), wages in real terms continue to increase dynamically. In April 2014, wages in real terms were up significantly, by 4.2 percent year-on-year. This result is also contributable to certain Government measures, such as the cutting of utility prices, public sector wage hike, the Job Protection Action Plan as well as measures aimed at stimulating labour market activity.

The Visegrád Four observe the Russian-Ukrainian situation with concern

Ministry of Finance, June 18, 2014 10:46 AM

The impasse between Russia and Ukraine is a crucial issue for the Visegrád Four (V4), as both countries are the bloc’s key economic partners, Minister for National Economy Mihály Varga said at a press conference held following the meeting of V4 economy ministers in Budapest.

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.