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Vice President Novak Prepares To Take Office On March 10

HUNGARY
  • While the general elections are scheduled to be held on April 3rd 2022 to elect the National Assembly, Hungary will hold an indirect presidential election on March 10.
  • Due to term limits, the incumbent President Janos Ader is ineligible to run (Ader has served as President of Hungary since May 10 2012).
  • Ador successor is very likely to be current Vice President of the Fidesz party Katalin Novák, whose (future) nomination was announced in December 2021.
    • As the current ruling party Fidesz enjoys a two-third majority at the National Assembly, it seems safe to say that Novak will be the next President even if the united opposition wins the legislative elections.
  • We recently showed that Orban’s party Fidesz currently leads the united opposition by 4 ppt (49% vs. 44%, source: Politico), but the election is still expected to be the ‘tightest’ since Orban took office.
  • The current government main commitment is to support families with children and help young people enter the labor market.
  • There's expected to be relatively little market impact from the change in office, with focus still resting on the results of the General Election at the beginning of April.
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