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Finance Minister Mihály Varga holds a press briefing at the headquarters of the Hungarian State Treasury on 7 December 2023.

Finance Minister: Average Inflation Rate Estimate for 2024 5.2 Per Cent

The minister noted a ruling by Hungary’s Supreme Court, declaring that Budapest could not be even partially exempt from its obligation to pay its taxes. Varga said if the Budapest city council failed to meet its obligations, the government ‘will…

Hungary Receives Additional 170 Billion HUF in EU Allocations, Looks to Strengthen Economic Growth in 2024

According to the minister’s briefing, this brings the total amount of EU funds allocated to Hungary in the past days to a substantial 470 billion forints. Last Thursday witnessed a transfer of €779.5 million (equivalent to 300 billion forints) from…
Finance Minister Mihály Varga and Zoltán Kurali, CEO of the Government Debt Management Agency arrive for a press briefing in the Ministry of Finance on 1 December 2023.

Hungarian Government Maintains Budget Stability Amidst Global Challenges

Despite extraordinary expenditures, the government has consistently reduced the budget deficit and the national debt year after year, the Ministry of Finance emphasized in its interim report released on the situation of the central subsystem of public finances, excluding local…
President Katalin Novák speaking at the reception held in honour of the members of the Hungarian Permanent Conference and the Diaspora Council on 16 November 2023.

The Decline of the Hungarian Population in the Carpathian Basin Can Be Stopped, President Stresses

Katalin Novák reminded that in the last 30 years, the population of Hungary has decreased by more than 700,000, and the ethnic Hungarian population of the neighbouring countries has also significantly diminished. However, she said, that decline is not something…
The building of the Mercedes plant in Kecskemét.

Government Launches Automotive Supplier Development Programme

On the basis of the ten-point proposal developed by the Ministry of Economic Development, the Hungarian government is launching a 2.9 billion forint Automotive Supplier Development Programme to enhance the role of Hungarian businesses as suppliers of multinationals in Hungary….

Hungarian Economy Expands in the Third Quarter

Hungary’s economy expanded by 0.9 per cent in the third quarter of this year compared with the previous quarter, adjusted data show, and contracted by 0.4 per cent year on year, based on unadjusted data, the Central Statistical Office (KSH)…

Hungary Establishes Demographic Roundtable to Become a Country of Growing Population  

Katalin Novák stressed that the roundtable is not a government agency. Its members will make recommendations to the government and ‘encourage people to contribute to the dialogue,’ she explained. The roundtable comprises representatives of the private and public spheres, as…

Hungary Climbs Two Positions in Global Wealth Ranking

This positive trajectory in Hungary’s financial landscape had an impact on the nation’s global ranking in terms of wealth. Hungary has advanced two positions, now sitting at 30th place among the world’s nations, demonstrating the country’s progress despite the challenging…
An image of Lake Balaton at Tihany with sailing boats.

Lake Balaton the Primary Target of Domestic Travel This Summer, Hungarian Tourism Agency Says

The robust recovery of inbound tourism greatly contributed to the positive tourism results in July. Compared to the same month last year, nearly a fifth more foreign guests, totalling 900,000, overnighted in Hungary….

Moody’s: Hungary’s Outlook Remains Stable

The credit rating agency expects a three per cent economic growth in Hungary next year, supported by strong exports, a high investment rate, and rising real wages….

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