Born on February 5, 1957 in Nyírbátor. He graduated from the Faculty of Agricultural Sciences of the University of Agriculture in Debrecen in 1981 majoring in plant management, general agricultural engineering and chartered accountancy. In 1986 he gained a degree in engineering and economics at the Faculty of Industry of the Karl Marx University of Economics and also obtained his doctorate.  

Between 1997 and 2002 he was chairman of the Chamber of Commerce and Trade of Szabolcs-Szatmár-Bereg County. He has been Member of Parliament since 1994, representing Nyírbátor (Szabolcs-Szatmár-Bereg County constituency no.6.) as an individual representative since 2006. He was mayor of Nyírbátor between 2002 and 2003.  

He has been county president of MSZP (Hungarian Socialist Party) in Szabolcs-Szatmár-Bereg County and a member of the national presidium of the party since 2004.  

He was political state secretary in the Ministry of Finance between 2003 and 2004 and subsequently Prime Minister Ferenc Gyurcsány's Chief of Cabinet from 2004 through 2005. He has been the Minister of Finance since 2005.  

He is married with two children.