Peter Magyar said he will present the 2027 budget to parliament at 1 pm Monday. His Tisza party took power after Viktor Orban suffered a landslide defeat in April's election, and the new leadership has pledged to bring Hungary back into Europe's mainstream with euro membership as a central goal.
Magyar's team wants to narrow the shortfall from above 7% of GDP to 3% by 2030, the level required to meet euro accession criteria. In a social post, he called it "A budget focused on justice and development will have the aim of rebuilding our country."
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He vowed to boost allocations targeting households, domestic enterprises, retirees, schools, and medical services. He also wrote, "The 2027 budget will cut spending on the state apparatus and reallocate resources from billionaires and polluting companies to the millions who have been left to fend for themselves." Markets have taken notice: expectations that Hungary could adopt the euro have propelled a multi-month surge in its bonds, pushing yields down even while higher-rated peers faced pressure from a softer global appetite for risk.
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