Tag: Economy

There has been little increase in public debt

He who says otherwise lies

There has been little increase in public debt

Eurostat has published statistics on sluggishness in liberal circles. In the second quarter of 2020, Hungary's public debt as a share of GDP barely increased, as we increased our indebtedness in the fourth lowest proportion among the EU member states. The crisis hurts everyone, but we have been much more prepared for the crisis, with economic growth of 5% the previous year, wage growth of 10%, public debt declining for 10 years, foreign currency loans getting rid of, and could still be listed. The government was foresighted, and as a result, we were not forced into IMF credit and other lifebuoys. Not incidentally, now 4.5 million work and "produce", in 2008 that number was 3.8 million.

Our government debt-to-GDP ratio increased by 3.2% compared to the second quarter of 2019 and by 4.6% compared to the first quarter of 2020. The same figures represent 8.1% and 8.4% respectively in EU aggregates.

We are good not only in this indicator, but also in terms of the general government deficit. Our deficit rose from 4% in the first quarter of 2020 to just 9%, while the EU-27 deficit rose from 2.6% to 11.4%.

These are also very good results because, in the last two weeks of the first quarter of 2020, we put the economy on fire for almost the entire second quarter to protect against the first wave of the coronavirus epidemic. Nevertheless, we have suffered a lower GDP decline than the EU average.

The value of the results is increased by the fact that many countries were more at risk during the first wave, not introducing strict restrictions similar to ours. Everyone struggled with an unknown enemy, but not all lives seem to matter in many countries. Since then, we have identified the enemy, we can fight without a complete shutdown, so we expect even better economic indicators in the future.


Tags: Economy  European Union 

They voted! EUR 12 billion (approximately HUF 4,200 billion) is EU funding for Hungarian farmers until 2027

(The amount is almost the same as the amount of resources that can be used in the period 2014-2020!)

They voted!  EUR 12 billion (approximately HUF 4,200 billion) is EU funding for Hungarian farmers until 2027

🧡Fidesz supported the proposal!
⛔️The left attacked Hungarian farmers in the back, voted no!🤮

📌EU money is not a gift - we have given our market for it.

They proved once again that they are the enemies of Hungary. They are angry when we say this, but in the meantime we state that with their NO vote they are not harming Orbán, but Hungarian farmers, ie all of us, as subsidies will make products cheaper, the Hungarian economy will be more crisis-tolerant and Hungarian farmers will be more competitive. The package also contains 30 percent environmental regulations, the left wanted Hungarian farmers to devote at least 50 percent of their resources to environmental protection, which is unrealistically much! 30% is not enough, but it is a compromise solution for the benefit of all of us and our future.

The left attacked Hungarian farmers in the back.
The European Parliament voted on Friday on the Union's Common Agricultural Policy until 2027. The proposal means billions of euros for Hungarian farmers. Hungarian left-wing MEPs did not support this. Fortunately, this time a majority in the European Parliament showed sobriety and voted in favor of the proposal, along with representatives of the Fidesz-KDNP.

In the future, the focus will be on results and performance, not on rules and compliance. The shift from a one-size-fits-all approach to a personalized approach will help make the policy more relevant to those who implement it on the ground. This approach gives Member States much more freedom to decide how best to meet common objectives and come up with effective solutions in response to the needs of their farmers, rural communities and society as a whole.

At EU level, an additional € 10 billion will be available through the Horizon Europe research program. This amount is intended to support research and innovation activities specifically related to the food industry, agriculture, rural development and the organic economy. Horizon Europe will play a key role in building the knowledge base needed to modernize the agricultural sector. Synergies between Horizon Europe (transnational projects) and the CAP (regional / local level projects and CAP networks) will help build an agricultural knowledge base and innovation system aimed at accelerating the diffusion of innovative practices among all actors in rural areas.

The Commission proposes to maintain the existing list of potentially eligible sectors (ie those eligible for voluntary coupled support since 2013. In addition, the Commission proposes to extend this list to non-food crops used for the production of products (short rotation coppice, woody energy crops and trees), which are potentially suitable as a substitute for fossil fuels.

How will the future CAP help young farmers?

One of the main priorities of the post-2020 common agricultural policy is to make the agricultural sector more attractive to young people and to help them set up viable production facilities. The proposed regulation provides for a number of measures, partly mandatory and partly voluntary, to support young farmers:
Member States must specifically devote at least 2% of the funds allocated to direct payments to helping young people to set up an agricultural business - either in the form of a supplement to the basic income support or a start-up aid; Member States have the option of allocating more amounts to support young farmers if they deem it appropriate.
The amount of support for the establishment of young farmers and business start-ups in rural areas will increase to 100 thousand euros.
In the Common Strategic Plan for the Common Agricultural Policy, each country must come up with a concrete idea of ​​how it plans to increase the attractiveness of agriculture to young people and support young farmers. The strategy for this should also address how national and EU funding can be used more consistently and effectively for this purpose.
The funds available to support rural development can be used for measures to improve access to land and the transfer of land, as this has traditionally been a major barrier to young people interested in agriculture taking up farming. These measures could include: the establishment of economic partnerships between different generations of farmers; the provision of farm succession and conversion planning services; provision of brokerage services relating to the purchase of land; creation of innovative national or regional organizations that facilitate or promote cooperation between young and old farmers, etc.
Young producers will continue to receive investment support and knowledge transfer / training through rural development funds.
Member States will have the opportunity to set up financing instruments to provide young farmers with working capital, as access to resources is often a major obstacle for them, given that setting up an agricultural business requires a significant investment with a low initial return. . In addition, the Commission will work more closely with the European Investment Bank, in particular on the "fi-compass" platform, to learn from experience and best practices in supporting young farmers.


Tags: Economy  Environmental Protection  European Union 

A new training support system for companies will be launched on Monday

Hungarian employees will be the winners! Thank you, Fidesz!

A new training support system for companies will be launched on Monday

A new training support system will be launched on Monday for companies implementing developments and investments in Hungary, the Minister of Foreign Affairs and Trade said on his Facebook page, reporting on Friday's meeting of the Economic Cabinet.

Péter Szijjártó explained: in case of an investment of at least five million euros (more than 1.8 billion forints) for production companies, in case of increasing the number of service centers by at least 25 employees, the government provides five thousand euros (more than 1.8 million forints) support for training and education programs. .

Due to the coronavirus epidemic, a new world economic era is beginning, in which huge competition for investments has started, the Minister wrote, emphasizing: Hungary is one of the winners of this new era, as the government announces new developments and investments every day.

He added that these investments bring the most modern technologies to Hungary, so there is a need for continuous training of the Hungarian workforce.

So far, several forms of support have already existed, and now comes the system of state-supported corporate training.

🇭🇺Job protection wage subsidy
🇭🇺Job-creating wage subsidies
🇭🇺Credit moratorium
🇭🇺Free trainings
🇭🇺Investment support
🇭🇺Temporary and permanent tax cuts

🔴Quote: Péter Szijjártó
"The pandemic is ushering in a new era of the world economy, with huge competition for investment.
Hungary is one of the winners of this new era, as we announce new developments and investments throughout the country every day.
As these investments bring the most modern technologies to Hungary, there is a need for continuous training of the Hungarian workforce.
Therefore, from Monday, a new training support system will be available to companies implementing developments and investments in Hungary:
In the case of investments of at least EUR 5 million for production companies, and in the case of service center expansions of at least 25 people, we provide EUR 5 thousand per person for training and education programs.
The Economic Cabinet is still meeting today. - at Carmelite Monastery.

Society is based on work. That is why the national government has set itself the goal that anyone who wants and can work can work. In 2010, the government undertook to create one million new jobs in ten years. Before the virus crisis, more than 850,000 new jobs had been created. This positive process was broken by the outbreak of the epidemic. In addition to human lives, jobs must also be protected. Therefore, the government has pledged to create as many jobs as the virus destroys.

We have taken a number of measures since the first wave of the epidemic. These included job protection wage subsidies, job creation wage subsidies, a credit moratorium, free training, investment subsidies, and temporary and permanent tax cuts. With wage subsidies alone, we helped a total of 280,000 employees. The measures of the economic protection action plan have improved the prospects and opportunities of a total of about 1 million people.

The results are already visible, as the number of registered unemployed has been steadily declining since mid-June. The number of employees rose again to 4.5 million in August, so that the number of people in work had already exceeded the value at the beginning of 2020, ie before the outbreak of the epidemic.

We will continue to take measures to protect jobs and families during the second wave of the epidemic. One such step is to extend the credit moratorium by half a year. This means that parents raising children, retirees, job seekers and public employees will not have to pay installments until 30 June 2021. The option also applies to businesses whose revenue has dropped by 25 percent.

Another measure is to make the administration of more than one and a half million public administration cases free of charge. In addition to businesses, this will also help families next year.

We want no Hungarian workplace to be endangered, so we are working on further steps.


Tags: Economy 

Economic bleaching

10 Years of Civil Governance - Part 28

Economic bleaching

The Perspective Institute concluded the discussion of the results with the economic whitening:
“The fight against the gray economy, launched in 2013, among other things, has made a major contribution to ensuring that the stimulus measures and prestige investments are also covered by the budget. By bleaching the widest possible range of economic activities, not only has competition become fairer, but state tax revenues have also increased significantly, with the measures generating only HUF 1,400 billion in additional revenue for the state between 2014 and 2018. The Government was able to use this amount for further market incentives and benefits, and the most secure cover for tax cuts is economic whitening. In 2017, Hungary was the largest tax cutter in the European Union, the tax burden decreased the most in proportion to GDP. ”

Economic bleaching activities can be divided into two groups: tax cuts, other measures (1) (2).

Of the latter group, the following should be highlighted:
- introduction of online cash registers,
an online control system for the carriage of goods by road, and
- online invoicing.

The purpose of the online cash register (3) and the online invoice (4) is to get all the amounts entered and all the numbers issued to NAV. These systems were introduced gradually, segment by segment. From then on, NAV became aware of the turnover and revenue of the companies issuing the blocks and invoices.

While the measure of tax evasion, the VAT tax gap, was 21% in the Gyurcsány era, tax evasion has decreased to 9.1% in recent years (5). Thus, the amount of unpaid VAT decreased as much and to such an extent as a result of the measures.

Hungarian tax burdens are among the lowest in Europe (6). The left-liberal fake news media is constantly trying to say the opposite, but maybe they just stood on their heads and that’s why they see the graph upside down. This is accompanied by high, if not the highest, real wage growth (7).

Consumption taxation remains important as it can be controlled through online cash registers and online invoicing. This is why VAT is higher than in neighboring countries, in parallel with which taxes on labor have been drastically reduced (8), so that it is simply not worth less or less to trick with wages. If we recalculate a little, we can see that the reduction in taxes on labor was many times the increase in the standard VAT rate of 2%.

It is important to note that the economic “crisis” caused by the coronavirus epidemic is not handled in a Gyurcsányist, left-liberal way by Fidesz-KDNP, but has provided additional tax relief (9). The tax burden not only on citizens but also on companies is decreasing, see corporate tax (10), (11).

Instead of loopy liberal assistance and basic income, ensuring a decent living and job creation has been targeted (12).

It's over.



Previous part:

Tags: Economy  Tax 

Car market numbers

Car market numbers

📌Record in the used car market, 212,900 passenger cars changed hands in the third quarter
📌A 15% decline in the new car market, with 34,417 passenger cars placed on the market in the third quarter. In September, we already managed to surpass the 2019 data, as 11,449 passenger cars were put on the market this month, which is more than the number 1 year ago.

Never seen traffic on the Hungarian used car market

The domestic used car market has never had as much turnover as in the third quarter of this year: almost 212,900 used, domestically registered cars changed hands during this period, JóAutók.hu told us. This is 1.6 percent higher than the previous peak recorded in the last quarter of 2019. The data show that the market has largely made up for the loss of traffic in recent months due to spring epidemiological constraints. However, the continuing uncertainty is diverting some stakeholders from the new car market to the used car market, which has the effect of increasing traffic. Therefore, JóAutók.hu expects 780-800 thousand used cars to change hands this year, making 2020 the second most active year in the history of the Hungarian used car market.

In Hungary, a total of 586,500 domestic passenger cars were transcribed in the first nine months of the year, which is two percent less than the 599 thousand registered in the same period of the previous year. During the same period, the number of new car sales was 90,092, down 22 percent from 115,105 a year earlier. The most common brand in the market this year was Opel again (12.2 percent), while Volkswagen confirmed second place (10.2 percent), followed by Suzuki (9.0 percent). Other locations include Ford and BMW, with the five brands combined accounting for 46 percent of total sales.

The domestic car market is trying to recover from the shock caused by the first wave of the coronavirus epidemic, although we are now in full swing in the second wave, which could also be a major influencing factor. According to Datahouse, 34,417 new passenger cars were placed on the market in Hungary in the third quarter of 2020, which is a 15 percent decrease compared to 40,557 units registered in the same period of 2019. In Q3, July was the strongest in 2020, but in August, nearly five thousand fewer new cars found owners compared to the same period in 2019. In 2020, we only managed to surpass the 2019 data in September, although at that time the domestic new car market performed even better than in 2018, as 11,449 passenger cars were placed on the market.


Tags: Economy 

Mihály Varga discusses the creation of 5,000 new jobs (with video)

Mihály Varga discusses the creation of 5,000 new jobs (with video)

🔴While the left is planning tax increases in Budapest, the government and finance minister see a way out of the crisis in creating new jobs and cutting taxes.

The left can only scramble, this was proven before 2010 and it is still being done today.
📌 https://www.facebook.com/szamokadatok/posts/205996047544203

In contrast, the figures show that the right path is not this, but tax cuts, family support and job creation. Once again, as many people work in Hungary as before the epidemic.
📌 https://szamokadatok.hu/Post/1941/Annyi_munkahelyet_kell_letrehozni_amennyit_a_virus_tonkretesz_-_nem_csak_szóak

Mihály Varga discusses the creation of 5,000 new jobs (with video)

- 1700 American companies
- 106,000 Hungarians are employed
- EUR 11 billion is the amount of US capital investments in Hungary
- 12 investments are being negotiated
- this will create 5,000 new jobs
- 1.5 billion euros worth of Hungarian investments in the United States.

Mihály Varga! As long as you are the Minister of Finance and Mr Matolcsy is the President of the MNB, the Hungarian economy will be in good hands.

📌Source: (video)https://www.facebook.com/VargaMihalyKepviselo/videos/337323650669205
https://magyarnemzet.hu/gazdasag/otezer-uj-munkahelyet-hozhat-az-amerikai-beruhazasok-videoval-8777731/ Hungarian Nation

Tags: Economy  Living 

Job creation, job protection, because Hungary is the first for us!

Job creation, job protection, because Hungary is the first for us!

All jobs that are in danger must be protected and new ones must be created instead of all that are lost, the Minister of Foreign Affairs and Trade said.

In Hungary, 904 companies used the first call for government support to increase competitiveness, thus protecting 155,000 jobs and committing about HUF 425 billion worth of investment nationwide, and 71 large Hungarian companies are launching HUF 207 billion in the competitiveness-enhancing support program. the Minister of Foreign Affairs and Trade announced on Monday in Székesfehérvár at Howmet-Köfém Kft., which was the first to receive government support.
Péter Szijjártó spoke at the foundation ceremony of the subsidy hall that during the pandemic, "it is not unemployment that is being financed, but the fight against it", and many companies have formed alliances with them. As he said, the European Commission allowed the support to the member states up to a maximum of EUR 800,000 per company, and 904 Hungarian companies received HUF 425 billion in the competitiveness-enhancing support program.

The minister said that, after lengthy negotiations, it had been possible to support companies with more than 800,000 euros, without a ceiling, which would protect 61,600 jobs and create more jobs. ”
Péter Szijjártó emphasized that Howmet-Köfém is investing in a HUF 9 billion investment, which will protect 550 jobs and create ninety new ones, for which the government will provide EUR 3.2 billion in support. The recently handed over hall will be expanded to include world-class state-of-the-art technology, bringing the current 1.8 million wheel capacity to 2.3 million, he added.

Tamás Vargha (Fidesz), Member of Parliament for the region, was pleased to note that the company will not wait until the end of the epidemic, but will invest proactively and strengthen its position by focusing on the post-pandemic period.
Mayor András Cser-Palkovics (Fidesz) emphasized that after the construction of the hall, which was launched in March 2018 and has been implemented since then, another one will begin, and the plans described at the time of laying the foundation stone will begin to materialize.
István Katus, CEO of Howmet-Köfém Kft., Confirmed that the new plant was recently completed, for nearly HUF 40 billion, next to which they will establish a new plant and further expand their production capacities. The most innovative technology on the market will be installed, and the world's most modern wheel factory will be completed, he added.

The greenfield investment will increase the importance of Howmet in Székesfehérvár, with production expected to begin at the end of 2021.
Howmet Aerospace (Alcoa until 2016, Arconic until 2020) has been present in Hungary since 1993, when the company acquired the majority of the shares of Székesfehérvár Light Metal Plant (Köfém). In Hungary, Howmet Aerospace manufactures forged aluminum wheels, aircraft engines and industrial gas turbine components, highly engineered structures made of various alloys for aircraft, and fasteners for the aerospace industry.

Howmet Aerospace employs about 1,200 people in two locations, Székesfehérvár and Nemesvámos.
The company established its global service center in Székesfehérvár in 1996, which now provides global financial and administrative support to Howmet Aerospace's sites. The company has invested more than $ 8 million in community initiatives since 1993.
According to public company data, the legal predecessor of Howmet-Köfém Kft., Arconic-Köfém Kft., Realized a profit of HUF 38.1 billion in the last business year with a net sales revenue of HUF 246.7 billion. In 2018, the company generated net sales of HUF 247.9 billion and a profit of HUF 31.7 billion.


Tags: Economy  Living 

Another recognition for Hungary!

Hungary won the award for the best debt manager in Central and Eastern Europe in the Global Capital vote!

Another recognition for Hungary!

Mihály Varga: Debt reduction will continue after the epidemic is overcome. The government will continue to reduce public debt with secure, long-term, multi-legged financing after tackling the coronavirus epidemic, the finance minister said in a video message on Friday.

Mihály Varga emphasized in a recording published on his community page that responsible, predictable debt management is also valued by investors, as evidenced by the fact that the Global Capital bond market portal has awarded prestigious awards to Hungary. He won the award for the best issuer in Central and Eastern Europe, the CEO of the Public Debt Management Center and Zoltán Kurali as the best debt manager in the region.

According to the Minister of Finance, the value of the recognitions is increased by the fact that they were awarded on the basis of professional criteria, with the votes of banks, investors and issuers. The government's efforts are therefore increasingly supported by the international capital market, he added.

Source: Magyar Hírlaphttps://www.magyarhirlap.hu/gazdasag/20201002-varga-mihaly-a-jarvany-lekuzdese-utan-folytatodik-az-adossagcsokkentes

Tags: Economy 

In one week, Péter Szijjártó announced 1,500 new jobs and discussed the protection of thousands of jobs.

"Helicopters", attention!

In one week, Péter Szijjártó announced 1,500 new jobs and discussed the protection of thousands of jobs.

From us, you can even ride a golden helicopter while Hungary develops through its work. (He used the Police helicopter 7 times out of 274 days so far when it was physically impossible to reach otherwise from one event to another due to the tight program)

Everyone can keep trackPéter Szijjártóthe activities of the Minister of Foreign Affairs and Foreign Economic Affairs on Facebook. His page is very professional, they post news several times during the day where the minister is going, with pictures, videos and articles posted on his page with a difference of about 1 hour. Sometimes live check-ins and live press conferences also appear on the site. For the sake of "helicopters", we have collected the job protection and job creation measures announced during the Minister's 1 week of activity.
In addition, of course, there were many talks with foreign delegations, the Minister visited several of our foreign partners, and even visited the Hungarians of Transcarpathia in Uzhhorod and Beregszász.

If anyone dares to "helicopter" or "yacht" after this, share this little list with him, once again, it's just a one-week crop.

📌1. Continental, 150 new jobs
📌2. Gedeon Richter, 125 new jobs
📌3. Lenovo, 1,000 new jobs
📌4. Güntner, 150 new jobs
📌5. MST, 77 job protection
📌6. Construction of Auchan, electric charging network
📌7. Dunakeszi Vehicle Repair, hundreds of new jobs
📌8. Huawei, new clod center, new jobs
📌9. Bettermann, negotiating new investments, currently employs 1,200 people
📌10. Pannon Oven, preservation and development of 243 jobs
📌11. Marso, 50 new jobs
📌12. Bumet, retaining 158 jobs, new investment

🇭🇺Thank you, Minister.

Tags: Economy  Living 

The investment cost of the Groupama Arena has long been recouped! The HUF 5.3 billion (2nd) after yesterday's victory is a net profit

"Stadiummen", Attention!

The investment cost of the Groupama Arena has long been recouped!  The HUF 5.3 billion (2nd) after yesterday's victory is a net profit

Many wrote after yesterday’s feat (1st) that the investment cost of Fradi’s home, the Groupama Arena, has now paid off. This is indeed true, with so many small adjustments that the price of the stadium has long since paid off, by the opening day the Hungarian state had generated more revenue during the investment than the construction costs.

Let's see the details: Gábor Kubatov's words to the Mandiner. (3.)

"The Hungarian state has made a very good deal with this real estate development project.
A beautiful and modern stadium was built virtually free of charge. In addition, the state even made money on investments. I'll deduce why I'm saying this. Let's face it: 38 percent of the value of all investments goes back to the Hungarian state in the form of taxes and contributions, even according to the most conservative calculations. The state repurchased the Üllői út plot from the English businessman Kevin McCabe for HUF 5 billion, thus restoring the original condition. I indicate, at the time, in 2008, McCabe paid the same amount to the state. But back to the numbers. The stadium was built, which cost HUF 18.5 billion, of which 38 percent of the investment, which is approximately HUF 7 billion, was returned to the state in the form of taxes and contributions. The state then sold the plot of land next to the stadium to a real estate developer for HUF 5 billion. This means that the Hungarian state already had HUF 12 billion in revenue, and the expenditure, including stadium construction and land purchase, was HUF 23.5 billion. However, the new Telekom headquarters was built on the sold plot, which has now been taken over by the FTC's main sponsor. The value of this investment is HUF 50 billion according to the data published in the press, of which HUF 19 billion was tax and contribution revenue for the state. Thus, HUF 31 billion of revenue is compared to HUF 23.5 billion of expenditure, so the Hungarian state earned almost HUF 8 billion by implementing this real estate development project. Let's summarize the point briefly: the Hungarian state built the Groupama Arena for free and earned another 8 billion forints.
Incidentally, the stadium has been operating profitably from the beginning. The stadium that was voted the best newly built stadium in the world in 2015. "

All this means that those who "stadium" are lying: Building such facilities is not only an expense but also a huge revenue. If we think about how much the Puskás Arena cost, and how much money came back from that amount in the form of taxes, contributions, how many new jobs were created, and how much revenue the state will have in the next 10-15 years, then only 444 and the index readers remain who don’t understand that anything is built - it’s good for us !.

🔴Our other articles for the attention of stadiums:


Tags: Economy