Ministry of Finance

Mihály Varga

Minister of Finance

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Hungarian enterprises may see new business opportunities in Kazakhstan

Ministry of Finance, April 29, 2019 11:32 AM

Economic cooperation between Kazakhstan and Hungary grows stronger year after year, and the upcoming phase in this process may be the establishment of Hungarian-Kazakh joint ventures and mutual investment projects, Minister of Finance Mihály Varga said at a Hungarian-Kazakh business forum in Nur-Sultan, Kazakhstan.

Economic weight of Visegrád countries could further gain in strength

Ministry of Finance, April 26, 2019 11:22 AM

Hungary and Central and Eastern Europe are the engine of the continent’s growth, and therefore companies from the Far East, too, are bringing more and more investments to this region, Finance Minister Mihály Varga stated at a press conference held in Pozsony (Bratislava) after a meeting of the Prime Ministers of the Visegrád Group and Japan.

Mihály Varga met with Chinese investors

Ministry of Finance, April 24, 2019 1:21 PM

Central and Eastern Europe may continue to be the continent’s growth engine, and this is one of the factors due to which China considers Hungary to be an attractive investment destination, Minister of Finance Mihály Varga said after talks with SINO-CEEF Fund Chaiman Jianqing Jiang.

Confidence of German enterprises in Hungary has increased

Ministry of Finance, April 16, 2019 8:58 AM

The latest, 25th business confidence survey conducted by the German-Hungarian Chamber of Industry and Commerce (DUIHK) reflects that 2018 was a highly successful year for the Hungarian economy, Minister of Finance Mihály Varga said, evaluating the study’s results.

Mihály Varga holds talks with director of Huawei

Ministry of Finance, April 9, 2019 4:03 PM

“The Hungarian Government is committed to the development of the infocommunications sector, in view of the fact that the digital transition is the key to a high rate of economic growth”, Minister of Finance Mihály Varga declared following talks with European Region Group President of Huawei Technologies James Li in Beijing.

Finance Minister holds negotiations on Budapest-Belgrade railway line project in China

Ministry of Finance, April 9, 2019 2:40 PM

“Hungary is committed to the early realisation of the Budapest-Belgrade railway line development project”, Mihály Varga declared at a meeting with the Export-Import Bank of China in Beijing.

Budgetary trends are in line with projections

Ministry of Finance, April 9, 2019 11:00 AM

The main factors that characterized the budget in the first quarter were higher revenues generated by economic trends that had offset the effect of tax reductions and higher state expenditures for domestic and EU projects. As a result, the budget closed the quarter with a deficit of HUF 141.9bn. The year-end deficit target and a lower government debt-to-GDP ratio are to be attainable.

Hungary’s instruments for improving economic transparency may serve as models for the EU

Ministry of Finance, April 8, 2019 10:35 AM

The pro-growth tax regime has been a major factor behind the performance of the Hungarian economy. The pro-transparency and pro-business elements of this system may serve as models for other member states, Minister of Finance Mihály Varga said at a meeting of EU finance ministers in Bucharest.

The preparation of the euro-zone budget must not jeopardize existing EU programmes and instruments

Ministry of Finance, April 8, 2019 10:28 AM

The preparation of the euro-zone budget must not jeopardize existing EU programmes and instruments; accordingly, Hungary regards it acceptable on the condition that funds of the multi-annual budgetary framework and contributions by member states are increased, Minister of Finance Mihály Varga said at an Ecofin meeting in extended format in Bucharest.

Government debt-to-GDP ratio fell more than expected last year

Ministry of Finance, April 1, 2019 2:50 PM

Thanks to the improving performance of the Hungarian economy and prudent fiscal management, the government debt-to-gross GDP ratio declined from 73.4 percent to 70.8 percent, while the government budget deficit has come to 2.2 percent instead of the prior estimate of 2.4 percent last year, Minister of Finance Mihály Varga said at a press conference in Budapest. The decrease of 10 percentage points in the debt-to-GDP ratio since 2010 was the fifth largest drop within the European Union, he added.