Magyar described the "budget for fairness and development" as a way to rebuild Hungary by redirecting state funds from oligarchs, multinationals, and lobbyists toward healthcare, education, and pensions. The TISZA government will use billions of forints in EU funding to finance large-scale investments in transport, housing, and water management while cutting the costs of state operations.
Tuesday, October 20, 2026
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Hungary Cuts 2027 Budget Deficit Target to 4.9% of GDP
Global Markets1 day ago
Prime Minister Peter Magyar introduced the new administration's roadmap for economic reform during a speech to parliament on Monday. The plan aims to reduce the budget deficit to 4.9% of gross domestic product in 2027, down from an estimated 7.5% in 2026, in an effort to stabilize the nation's finances and support a push to adopt the euro.
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