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Mihály Varga

MIHÁLY VARGA is the Minister for National Economy. Received bachelor’s degree in economics from Karl Marx University of Economic Sciences (today Corvinus University) in Budapest in 1989. Served as State Secretary at the Ministry of Finance during the first Orbán government from 1998 to 2000 before being appointed Minister of Finance in 2001. Was State Secretary in charge of the Prime Minister’s Office in the second Orbán government between 2010 and 2012. Served as Minister without Portfolio in charge of the government’s relations with the International Monetary Fund and the European Union between 2012 and 2013. Mr. Varga has been a Member of the Board of Governors at the European Investment Bank since 2013. He serves as Governor of the European Bank for Reconstruction and Development.

22 August 2017
"The detractors notwithstanding, many of the instant measures we adopted in 2010 seem rather bold in hindsight, but we made it. First of all, we stabilised the national budget, without increasing the burden on households. This was why we decided to levy a Robin Hood tax on the industries least affected by the meltdown. (Subsequently, these special taxes were phased out.) By mid-2013, the European Commission had no choice but to admit that Hungary was capable of meeting the sub-3.0 per cent deficit target as expected by the Union..."

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