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HUNGARY: Magyar Vows to Unlock EU Funds, Calls for Euro Adoption

HUNGARY
CEEMEAEM BulletBulletEmerging Market NewsHungary

Leader of the opposition Peter Magyar has spoken in an interview with Bloomberg, in which he presented a plan to end Hungary's economic crisis: by defeating Prime Minister Viktor Orban in the next election and unlocking frozen EU funds while steering the country toward euro adoption.

  • “EU funds would be the first item on our agenda,” Magyar said. “It’s a key task to emulate Tusk in preparing and negotiating that. We need that money.”
  • “A new government with more predictable economic policies would win back the trust of markets if it doesn’t change laws daily or doesn’t seek to penalize foreign investors,” Magyar said. “After that, the country’s risk premium will plunge and sovereign debt can be refinanced at a much cheaper level.”
  • “We want a predictable forint exchange rate and we’d like to have a date for joining the euro area,” Magyar said.

While Hungary’s next election is not expected until 2026, a poll by HVG news website last week showed support for Prime Minister Orban’s Fidesz party sliding to 36% among undecided voters, compared to 47% for opposition leader Peter Magyar’s Tisza party. This marks the first poll to show Tisza with a double-digit lead over the ruling party. 

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Leader of the opposition Peter Magyar has spoken in an interview with Bloomberg, in which he presented a plan to end Hungary's economic crisis: by defeating Prime Minister Viktor Orban in the next election and unlocking frozen EU funds while steering the country toward euro adoption.

  • “EU funds would be the first item on our agenda,” Magyar said. “It’s a key task to emulate Tusk in preparing and negotiating that. We need that money.”
  • “A new government with more predictable economic policies would win back the trust of markets if it doesn’t change laws daily or doesn’t seek to penalize foreign investors,” Magyar said. “After that, the country’s risk premium will plunge and sovereign debt can be refinanced at a much cheaper level.”
  • “We want a predictable forint exchange rate and we’d like to have a date for joining the euro area,” Magyar said.

While Hungary’s next election is not expected until 2026, a poll by HVG news website last week showed support for Prime Minister Orban’s Fidesz party sliding to 36% among undecided voters, compared to 47% for opposition leader Peter Magyar’s Tisza party. This marks the first poll to show Tisza with a double-digit lead over the ruling party.