Fitch Ratings says Hungary could meet eurozone criteria by 2030

Hungary could meet the conditions required to adopt the euro by 2030, according to an assessment published on Thursday by Fitch Ratings. Euronews and Daily News Hungary both report that the credit rating agency cited the country's 2027 draft budget and its medium-term deficit targets as key factors supporting that target. [1][3]

Euronews reported that Prime Minister Péter Magyar presented the 2027 draft budget on Monday. The Hungarian government intends to reduce the general government deficit to 4.9 percent of gross domestic product, down from an expected 7.5 percent this year. [1]

The budget plan incorporates planned spending cuts equal to 1.5 percent of gross domestic product next year, Euronews said. Additional savings are expected to come from the expiry of temporary and one-off pre-election measures. [1]