Hungary Plans to Bring Deficit to Below 3% by 2030, Magyar Says

Hungary's Prime Minister Peter Magyar has announced an ambitious plan to reduce the budget deficit to below 3% of GDP by 2030, emphasizing the necessity for sustainable public finances. This move aims to stabilize the nation's economic outlook and reduce reliance on external borrowing, which is crucial for maintaining investor confidence and long-term economic health. While this strategy could enhance Hungary's fiscal credibility, its success will depend on the government's ability to implement and maintain the necessary fiscal discipline over the next decade.