Hungarian: We Will Double the Family Allowance in 2027
4 Articles
4 Articles
“The future of Hungary lies in its children, so as we undertook, after 19 years of government neglect, we will double the family allowance in one step from 2027,” announced Péter Magyar. This will go to every Hungarian child. This means an additional HUF 140,000 per year for one child, HUF 319,000 for two, HUF 576,000 for three, and HUF 768,000 for four children. An additional HUF 300 billion will be allocated to the measure in next year’s budge…
The family allowance would be doubled, the change could affect one million families - Péter Magyar and András Kármán explained why some planned tax breaks are not being implemented.
The Tisza government would double the family allowance from 2027, spending around 300 billion forints on it, while also transforming the system of social security exemption for mothers. A family with two children would thus receive 319,200 forints more in family allowance per year, while the social security exemption could leave several times this amount in the family coffers for some affected people.
Prime Minister Peter Magyar presented Hungary's draft budget, which will address a much smaller deficit of 4.9% of gross domestic product (GDP) in 2027.
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