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Hungary·Trade & Economy·Diplomacy

Hungary's new PM Magyar pledges eurozone entry but faces steep economic hurdles

Wednesday, 17 June 2026, 06:53 · 1 min read

Hungarian Prime Minister Peter Magyar's Tisza party, elected in April 2026, has committed to meeting eurozone entry conditions by 2030, with full euro adoption targeted for around 2032–33 at the earliest. The pledge enjoys broad public support — 75 per cent of Hungarians trust the euro, driven largely by decades of forint instability under successive governments — but economists warn the path will be gruelling. Hungary currently fails all three Maastricht criteria required for eurozone membership, with national debt at 75 per cent of GDP, a budget deficit projected at 7 per cent this year, and inflation expected to rise; some experts argue the country must first invest heavily in neglected public services before embarking on the fiscal austerity that euro adoption demands.

Sources
Balkan InsightHungary PM’s Euro Pledge to Test Public Appetite for Reform – And His Popularity ↗︎
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