The New Hungarian Budget Set a Big Goal: According to Ákos Péter Bod, Serious Dangers Still Lurk
4 Articles
4 Articles
The new government’s first comprehensive economic policy documents, the medium-term program and the 2027 budget bill, are refreshingly transparent and demonstrate serious professional work. The bill would reduce the deficit of 7.5 percent expected for 2026 to 4.9 percent in one year, which is a substantial adjustment and is in line with the goal of Hungary meeting the conditions for adopting the euro by 2030. However, the path after 2027 is not …
According to Péter Ákos Bod, the 2027 budget is transparent and demonstrates serious professional work, but it also preserves several Orbán-era measures that are considered economically harmful. The former chairman of the MNB believes that by doing so, the new government is retroactively legitimizing the solutions of the previous system and is also curbing economic growth.
The new government's first comprehensive economic policy program and draft budget for 2027 have been published. Although the document is refreshingly transparent, and the 4.9 percent deficit target set for next year is a meaningful step towards the introduction of the euro in 2030, the budget also contains serious compromises. The medium-term plans are not ambitious enough, budget holes are still being plugged with special taxes, and the cabinet…
The budget continues many otherwise harmful Fidesz measures and institutions, such as special taxes and various "family-friendly", "overhead cost-reducing" etc. solutions.
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