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Mihály Varga

Hungarian Government Submits 2025 Draft Budget

Hungarian Finance Minister Mihály Varga presented the government’s draft budget for next year to parliament on Monday. ‘The 2025 budget can be a budget for new opportunities, a budget for new economic policy, and a budget for peace,’ he emphasized…

Finance Minister Mihály Varga on Building a Stronger and More Resilient Europe

Minister of Finance Mihály Varga of Hungary shared with a reporter what was on the agenda of the ECOFIN meeting in Luxembourg. The recovery of Europe’s economy, aid to Ukraine financed by loans, climate finance, and the upcoming World Bank…

More Unblocked EU Funds Coming to Hungary

Additional previously frozen EU funding is set to reach Hungary, this time totalling more than €70 million. However, more than €20 billion funds are still withheld by Brussels….
The Treasure of Karcag Art and Conference Centre on 29 February 2024.

Karcag Art Centre to Contribute to Preservation of Cultural Heritage and National Identity

‘Through the Kun and Jász peoples, this city still represents the Central Asian roots of the Hungarians today,’ Finance Minister Mihály Varga said at the inauguration, adding that herefore, the symbolic building of the Treasure of Karcag Art and Conference…

Hungarian Economic Performance Surpasses EU Average

According to recently released data, the Hungarian economy has surpassed the EU average in 2023, and is poised to be among the leading countries in 2024 as well….

Finance Minister Stresses Importance of Maintaining Disciplined Fiscal Policies

The minister stressed the importance of maintaining disciplined fiscal policies this year, aiming for an annual average inflation rate of around 5 per cent. He firmly asserted that until the inflation rate returns to a more moderate range, fiscal spending…
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…

300 Billion HUF of Unlocked EU Funds Arrive in Hungary

Under the scope of the Union’s REPowerEU programme, €779.5 billion have been transferred to Budapest and the amount is now included in the government budget, Finance Minister Mihály Varga announced today. According to Minister for Regional Development Tibor Navracsics, an…

Hungary Calls for Fair Burden-Sharing in EU Border Protection Financing

In a missive addressed to European Commissioner for Budget and Administration on Thursday, the Hungarian Minister of Finance recalled that there is a long-standing consensus that the defence of the European Union’s borders is a collective responsibility of the member…

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