Peter Magyar called for Hungary to adopt the euro as soon as possible – Bloomberg

Hungarian Prime Minister Péter Magyar and Finance Minister András Kárman expressed their support for the country’s accession to the Eurozone as soon as possible.

Speaking to reporters in Budapest, Magyar did not specify a date for the transition to the single currency, noting, “The sooner, the better.” According to him, this will promote “price stability and predictability” and will benefit the entire economy by lowering borrowing costs, particularly for mortgage loans.

The politician stated that Hungary should first enter the ERM-2 “waiting room” and then adopt the euro, provided it receives the necessary parliamentary support. These statements come after the presentation of the 2027 draft budget, which outlines a path to meeting the EU’s deficit criteria by 2030. In addition, government officials detailed plans to combat wasteful spending and corruption in order to streamline the bureaucracy. Following these statements, the Hungarian forint recovered some of the ground it had lost during the day.

Source: Bloomberg.

Earlier, Péter Magyar criticized Viktor Orbán’s statements regarding Hungary’s new anti-corruption agency. The current prime minister stated that Orbán’s remarks could be interpreted as “violence against a public servant.”

Hungary has restored access to a number of Ukrainian news sites that had been blocked in response to reciprocal restrictions imposed by Kyiv. The decision marked a step toward partially unblocking the flow of information between the two countries following a media conflict.