Ministry of Finance

Mihály Varga

Minister of Finance

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2020 budget promotes pay rises and reduction of taxes all at once

Ministry of Finance, July 14, 2019 2:05 PM

Next year’s budget promotes a rise in wages, earnings and investments as well as the reduction of taxes and the sovereign debt all at once, Finance Minister Mihály Varga said on Kossuth Radio’s programme Sunday Paper.

Acknowledgement of results of Hungarian economy

Ministry of Finance, July 13, 2019 10:10 AM

It has been proved again that the performance of the Hungarian economy exceeds international expectations, Finance Minister Mihály Varga said after his meeting with Pierre Moscovici, the European Commission’s departing Commissioner for Economic and Financial Affairs, Taxation and Customs. The Finance Minister said in its latest analysis the European Commission itself acknowledges that the Hungarian economy could continue to expand at a rate above the EU average, and by considerably upgrading its earlier projection, it has increased its estimate regarding Hungary’s GDP growth for this year to 4.4 per cent.

2020 budget is about protection of families and economic achievements

Ministry of Finance, July 12, 2019 8:59 PM

The adoption of the 2020 budget shows that the vast majority of Members of Parliament agree with the continuation of an economic policy that is based on the strengthening of families, the protection of the economic results achieved, the maintenance of the country’s security and pay rises.

European Commission has meaningfully upgraded Hungary’s growth forecast

Ministry of Finance, July 11, 2019 11:43 AM

The European Commission’s latest forecast shows that not even experts in Brussels can ignore any more that in the first quarter of this year the growth of the Hungarian economy not only did not slow down, but with an expansion of 5.3 per cent Hungary is number one in the EU rankings, László Balogh, Deputy State Secretary of the Ministry of Finance said on the public service television news channel M1.

Hungarian economy is performing above EU average, criticisms are political

Ministry of Finance, July 10, 2019 11:03 AM

There are unfounded claims in the EU’s recommendations regarding Hungary. It is regrettable that the European Union’s activities related to the management of the economy are watered down with politically debatable topics that are irrelevant to the subject in hand, Finance Minister Mihály Varga stated at the Brussels meeting of EU finance ministers (Ecofin).

Eurozone budget: Member States are divided by issue of funding

Ministry of Finance, July 9, 2019 12:21 PM

Consultations regarding the establishment of a Eurozone budgetary instrument are ongoing even after the EP elections as Member States have to date failed to reach an agreement on a number of material issues; issues which divide them the most, Finance Minister Mihály Varga said after the extended meeting of the finance ministers of the countries using the euro (Eurogroup). Hungary continues to insist that the new instrument cannot withdraw funds from non-Eurozone countries and cannot jeopardise the financing of other budgetary goals, the Hungarian minister added.

Deficit target can be reached against the background of a fall in sovereign debt

Ministry of Finance, July 8, 2019 8:26 PM

As a result of the government’s disciplined budgetary policy and favourable economic processes, state finances continue to remain characterised by stability and increasing revenues. In consequence, the deficit of the first six months amounted to HUF 390 billion which is 39.1 per cent of the planned deficit. The deficit target of 1.8 per cent to GDP for the whole of the year continues to remain realistic and achievable, while the sovereign debt indicator, too, will decrease further.

The Government wants to provide young people with an improving vision of the future

Ministry of Finance, July 3, 2019 9:31 AM

“The Government’s goal is for it to be increasingly worthwhile to live, work and raise a family in Hungary”, Minister of Finance Mihály Varga declared at the Fidelitas Summer University. “This is why next year’s budget simultaneously provides a framework for the Family Protection Action Plan and the Economy Protection Action Plan, and for the preservation of Hungary’s security”, the Minister emphasised.

The World Bank could also help Hungarian enterprises to appear on international markets

Ministry of Finance, July 3, 2019 9:12 AM

“Increasing the export capability of Hungarian small and medium-sized enterprises is one of the Hungarian Government’s strategic goals”, Minister of Finance Mihály Varga stressed at a meeting with the World Bank’s regional Executive Director Günther Schoenleitner.

Sales of the new Hungarian Government Bond Plus exceed 1000 billion forints

Ministry of Finance, July 3, 2019 9:08 AM

Sales of the new Hungarian Government Bond Plus sovereign bond have exceeded 1000 billion forints (EUR 3.1 billion), Minister of Finance Mihály Varga announced on his Facebook page.