NGM: the government will do everything to further increase retail turnover

By: Trademagazin Date: 2025. 07. 07. 12:11

The government is working tirelessly to ensure that families can manage with more money and thus spend more, which is why it is implementing Europe’s largest tax reduction program. The increase in wages and government measures aimed at reducing price increases are also contributing to the expansion of consumption, the Ministry of National Economy (NGM) stated in its commentary on the latest retail data on Monday.

The announcement cites data from the Central Statistical Office (KSH), according to which the volume of retail turnover in May 2025 increased by 2.1 percent compared to the same period of the previous year, while it decreased by 1.3 percent compared to the previous month. The sales volume of food and food-type mixed stores increased by 0.5 percent, of which food-type mixed stores, which account for 76 percent of food retail, increased by 2.1 percent. Meanwhile, the volume of sales in non-food retail increased by 4 percent compared to the same period of the previous year.

According to the Ministry of Economy, the spring holidays, such as Easter and Pentecost, had a significant influence on the development of the data, but it is clear that retail sales and consumption of services continue to show an expanding trend.

The government is working to maintain this positive trend, which will be further strengthened from July by the first phase of doubling the family tax allowance, as well as the tax exemption of CSED, GYED, and the foster care fee. From October, the tax exemption of mothers with three children, from January, mothers under 30, and mothers with two children under 40 can all significantly contribute to the expansion of consumption

– the Ministry of Economy listed.