Articles by #hashtag

Mihály Varga

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Pharma factory Built to Produce Coronavirus Pills

Mar 11, 2021

A plant built with state subsidy by the pharma company Meditop in Pilisborosjenő, NW of Budapest, was inaugurated this Thursday, It will be here that preparations used to treat coronavirus patients are manufactured and developed. During the inauguration ceremony, Minister of Finance Mihály Varga was of the view that thanks to the Health Support Program, […]

2021 – How Big of a Recovery?

Jan 1, 2021

“It will be crucial when the protection of the population against infection can be achieved. If this is achieved in the first half of 2021, we expect the fastest economic recovery in Hungary in the last hundred years.” Even if the last half of this statement made earlier this week by the Governor of the […]

Linamar Group Europe VP Csaba Havasi

Linamar expands production facility in Hungary

Feb 3, 2015

Canada-based diversified global manufacturing company Linamar has set up a new factory facility with a EUR five billion investment in Orosháza, Hungary, 200 kilometres southeast of Budapest. The EU supported project creates 150 new jobs at the company.

Economics minister Mihály Varga speaking at the assembly of the Hungarian Association for Innovation | source: Hungarian Ministry for National Economy

Hungary must become an innovation hub

May 20, 2014

The Hungarian government will do everything in its power to help Hungary turn into not only a production but an innovation centre, Minister for National Economy Mihály Varga said at the general assembly of the Hungarian Association for Innovation.

| Lajos Soós/MTI

Government outlines new convergence program

Apr 30, 2014

The Hungarian government projects 2.9% of GDP budget deficit for 2014 and over 3% economic growth for 2017 in its convergence program sent to the European Commission. The program was outlined to the press by Economics Minister Mihály Varga.

'Investor of the month' in Hungary: Hankook Tire | Dávid Harangozó

Vehicle manufacturing: 10pc of Hungarian GDP

Feb 11, 2014

Hungary’s vehicle manufacturing industry produced some EUR 18 bn last year, which amount constitutes 18% of the total Hungarian manufacturing industry output, 10% of Hungary’s GDP and 18% of total Hungarian exports.

Hungarian Minister of National Economy

Hungarian-Korean Economic Cooperation Forum

Jan 28, 2014

“Hungary is ready to further strengthen the business relations with South Korea,” the Hungarian Minister of National Economy, Mihály Varga pointed out at the opening of the Korean Economic Cooperation forum in Budapest.

EBRD President Suma Chakrabarti (on the left) received by Hungarian National Economy Minister Mihály Varga in Budapest | Hungarian Ministry for National Economy

EBRD President in Budapest

Nov 19, 2013

The President of the European Bank for Reconstruction and Development (EBRD), Suma Chakrabarti paid a visit to Budapest where he discussed with Minister for National Economy Mihály Varga several ussies on the agenda between the bank and Hungary.

| Attila Kovács/MTI

Hungary is to re-privatize Dunaferr steel company

Aug 21, 2013

The Hungarian Ministry of National Economy has issued a press release, which reiterated plans to make a bid for ISD Dunaferr Duna Steel Works and re-privatize the struggling industry behemoth, the financial website reports.

| source:

Excessive deficit procedure abrogated for Hungary

Jun 21, 2013

EU finance ministers decided to endorse the European Commission’s recommendation of May 29 to abrogate the excessive deficit procedure (EDP) for Hungary. The country has been in the EU’s fiscal cuffs since its accession to the bloc in 2004.

Economy Minister Mihály Varga announcing new tax hikes | Imre Földi / MTI

New tax hikes from the Hungarian government

Jun 17, 2013

The Hungarian government has announced additional fiscal adjustment measures to avoid the reopening of the excessive deficit procedure (EDP) against the country once EU finance ministers agree to abrogate the EDP for Hungary.

Economy Minister Mihály Varga announcing new restrictions | Lajos Soós/MTI

New fiscal adjustment package in Hungary

May 11, 2013

The Hungarian Minister of National Economy Mihály Varga announced that in order to ensure that the European Commission’s excessive deficit procedure against the country is lifted, the government will freeze HUF 92.9 billion in the 2013 budget.

| D&T archive

Hungary-IMF deal further delayed

Nov 20, 2012

The International Monetary Fund (IMF) and the European Commission will wait for the approval of the 2013 budget and then there could be further development in the current negotiating stage, Hungary’s chief aid negotiator Mihály Varga said this Tuesday.

| D&T Arvhive

Hungary-IMF talks may start early summer

May 17, 2012

Hungary future IMF negotiator, Mihály Varga, expects formal negotiations with the International Monetary Fund (IMF) and the European Union on a financial assistance program start as soon as early summer thanks to meeting the preconditions for the talks.

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