ZH
IT
DE
Tisza Party’s economy expert shares when Hungary could adopt the euro
Hungary could move significantly closer to adopting the euro by the end of the decade, according to Kármán András, economic policy adviser to the Tisza Party.
Tisza Party’s economic expert reveals when Hungary could adopt the euro
In a recent interview with Népszava, he outlined an economic strategy that the opposition party says would prioritise innovation, fiscal sustainability and social investment.
Kármán argued that Hungary’s current growth model, pursued for roughly 15 years under Fidesz, has relied mainly on extensive expansion driven by external resources and large-scale industrial investment. In his view, this approach has now exhausted its reserves and requires a shift towards productivity-focused development.
In case you missed it, a new documentary was made, which shows how opportunities slipped away under Prime Minister Viktor Orbán.
They would need to restructure the economy
He said a future Tisza-led government would seek to build “a far more innovative economy”, with stronger support for small and medium-sized enterprises and increased investment not only in physical infrastructure but also in human capital. Education, vocational training and healthcare spending would be key priorities, he added.
On monetary policy, Kármán stressed that adopting the euro could bring substantial benefits to the Hungarian economy. Companies would save on currency conversion costs and be shielded from exchange-rate risks, while the credibility of monetary policy could strengthen, helping to keep inflation expectations lower. Hungary, he noted, has historically struggled to reduce inflation without the anchor of a common currency.
Hungary probably could not have the euro in this decade
According to current projections within the Tisza Party, Hungary could meet the Maastricht convergence criteria by around 2030, which is a prerequisite for joining the euro area. Kármán said a revised national budget would be prepared within the first 100 days of a new administration, followed by a medium-term programme detailing the steps needed to reach that target “gradually and realistically”.
Beyond euro adoption, the Tisza Party has outlined a range of economic and social measures. These include maintaining the 13th and 14th month pension payments, introducing a special benefits card for pensioners and narrowing the gap between low and high pensions. Targeted income-tax cuts for lower earners, reduced VAT on healthy foods and a modest wealth tax on very high-value assets are also under consideration, writes 24.hu.
The Tisza Party expert said financing would rely partly on unlocking suspended EU funds and reducing what he described as inflated public procurement costs. He emphasised that the priority would not be rapid deficit cuts but a sustainable fiscal path capable of placing public debt on a steady downward trajectory.
If you missed it: