Ministry of Finance

Mihály Varga

Minister of Finance

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Reinvested profit could become fully exempt from corporation tax

Ministry of Finance, April 30, 2020 8:52 AM

The government has submitted another proposal aimed at mitigating the effects of the coronavirus epidemic, thereby facilitating the protection of workplaces and the economy.

The credit agreement relating to the Belgrade-Budapest railway line has been signed

Ministry of Finance, April 28, 2020 10:59 AM

“A secure credit agreement that is favourable for Hungary has been concluded between Hungary and China with relation to the development of the Budapest-Belgrade railway line”, Minister of Finance Mihaly Varga said in a statement to Hungarian news agency MTI on Friday after signing the credit agreement required for the commencement of the investment project.

Hungary successfully issues Euro bond

Ministry of Finance, April 24, 2020 9:58 AM

“Hungary has issued a total of 2 billion euros in 6- and 12-month maturity government securities with favourable interest and attracting a high level of investor interest”, Minister of Finance Mihály Varga announced. The Minister highlighted that the successful transaction confirms that investors continue to have faith in Hungary and are confident with relation to the rebooting of the Hungarian economy. The collateral for the increased financing requirements caused by the coronavirus epidemic has been assured.

Preserving jobs and rebooting the economy is the priority goal

Ministry of Finance, April 21, 2020 10:08 AM

“The government must strive to maintain fiscal discipline even during the coronavirus epidemic, but we must not doggedly insist on keeping the budget deficit under three percent, because preserving jobs and rebooting the economy must now be given priority”, Minister of Finance Mihály Varga said on Kossuth Radio’s “Sunday Paper” show.

The government has decided on the introduction of further tax concessions

Ministry of Finance, April 17, 2020 10:34 AM

“The government has decided on the introduction of further tax concessions that will leave 200 billion forints (EUR 570 million) in the pockets of enterprises and families”, Minister of Finance Mihály Varga announced on Thursday in a video posted to his Facebook page.

The effective handling of the crisis also requires the support of countries from outside the eurozone

Ministry of Finance, April 17, 2020 9:56 AM

The crisis management instruments proposed by the European Commission were discussed at the latest videoconference meeting of EU finance ministers, Minister of Finance Mihály Varga told the press following the meeting.

The banking sector is contributing to protection with a one-time tax

Ministry of Finance, April 9, 2020 5:56 PM

“A one-time tax is being levied on the banking industry equating to a rate of 0.19 of the tax base exceeding 50 billion forints (EUR 139.3 million); the revenue flowing into the budget as a result will be 55 billion forints (EUR 153.2 million), which will have to be paid in three instalments”, Minister of Finance Mihály Varga announced at a press conference in Budapest on Thursday.

The Hungarian budget is providing all necessary resources for protection against the epidemic

Ministry of Finance, April 9, 2020 11:32 AM

The most important task of the Hungarian government is handling the effects of the coronavirus epidemic. In addition to protecting people’s lives, other important tasks include rebooting the economy, preserving and recreating jobs, and reinforcing the situation of families and enterprises.

Every fifth forint of country’s income serves containment effort

Ministry of Finance, April 8, 2020 11:17 AM

Hungary is using around 20 per cent of its annual income for the containment of the coronavirus, and with this the government is placing every fifth forint in the service of families and businesses, Finance Minister Mihály Varga said on Wednesday, after the meeting of the financial task force.

Employer social security contributions to be reduced by 2 percent

Ministry of Finance, April 7, 2020 12:54 PM

“In addition to the new economy protection measures being introduced because of the coronavirus epidemic, the government would also like to retain some of its previous decisions, including the fact that the level of employer social contribution tax will be reduced by 2 percent”, Minister of Finance Mihály Varga said on Kossuth Radio’s “Good Morning, Hungary!” show on Tuesday.