Hungary to Unveil 2027 Budget Monday, Laying Out Euro Road Map

Hungary’s Prime Minister Peter Magyar said he would present the country’s 2027 budget in a speech to parliament at 1pm on Monday.

The budget plan will give a first indication of how Magyar’s new government plans to meet its ambition of cutting the budget deficit by 2030 from more than 7% of gross domestic product to the 3% level needed to meet the criteria for joining the euro.

His Tisza party, which took power following a landslide defeat of long-serving strongman Viktor Orban in April’s election, has promised to return the country to the European fold, a project of which euro membership is a centerpiece.

“A budget focused on justice and development will have the aim of rebuilding our country,” he said in a social media post, promising more money to families, Hungarian businesses, pensioners, education and healthcare.

“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,” he added.

The prospect of Hungary joining the euro has fueled a months-long rally in Hungarian bonds, whose yields have tumbled even as traditionally better-rated rivals have been hit by falling global risk appetites.

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