News in Brief
Finance Minister: Hungary's EU presidency will continue to improve competitiveness
Minister Varga pointed to the need for lower energy prices and a reduction in the VAT burdens of businesses.
Mihály Varga
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News in Brief
Finance Minister: 2025 budget to benefit families and businesses
Minister Varga said the three "pillars" of the 2025 budget were boosting Hungarians' purchasing power, ensuring affordable housing and scaling up SMEs with the Demjan Sandor Programme.
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Finance Minister: Performance of Hungary's business sector has been 'impressive'
The finance minister said the government's Eastern Opening policy had brought record FDI to the country.
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Varga: EU taxation agreement will contribute to improvement in competitiveness
In future, local companies will be able to do business in other member states using the VAT registration of their own national tax authority.
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Finance Minister: Europe's job is to concentrate on improving its competitiveness
A proposed package of European Union regulations on VAT in the digital age approved by EU finance ministers will allow businesses to register for VAT purposes once for all member states.
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Varga: VAT compromise in digital age 'great success' of Hungary's EU presidency
Minister Varga said the compromise had been reached after two years of negotiations, adding that ministers were expected to approve the package at the meeting on Tuesday.
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Finance Minister: Europe is losing ground to global competitors
Minister Varga said Europe's increasingly serious challenges call for urgent and effective solutions.
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Finance Minister: International development banks need to play bigger role in managing crises
Minister Varga noted that international financial systems had proven resilient even when financial stability was under threat during the pandemic and after the outbreak of the war in Ukraine.
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Finance Minister: There can be no economic success without confidence and cooperation
Minister Varga said confidence and cooperation had allowed Hungary's economy to triple in size, at current prices, and grow 42 percent, in real terms, since 2010.
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Finance Minister: Hungary is strengthening its role as a financial hub in CEE
With bilateral trade reaching more than EUR 12bn a year, China is Hungary's biggest trading partner outside of the EU.
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Finance Minister: Hungary’s economy could grow by 1.8-2.2% this year and 3.5% in 2025
Minister Varga said that 3.5% economic growth was feasible by all means for 2025, with 1.8-2.2% being a realistic projection for this year.
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Finance Minister: EU is increasingly lagging in global competition
Minister Varga said Hungary had spent a total of 700 billion forints (EUR 1.8bn) on border protection in recent years.
News in Brief
Finance Minister: Hungary paying the price for EU eliminating border protection within bloc
Stopping illegal migration is among one of the key topics on Hungary's EU presidency agenda.