PM Orbán’s billion-dollar wager on Trump: a seat at the top table, but at what cost amid Hungary’s debt spiral?

Hungary’s embattled prime minister, is no stranger to bold gambles. But splashing out $1 billion on a Trump-created “peace board” for Gaza? That’s a wager even Las Vegas might balk at—especially as Budapest teeters on the brink of economic ruin.

Yesterday, Orbán gleefully brandished a letter from President Trump inviting him to join the freshly minted Gaza Board of Peace as a founding member. “Where there is Trump, there is peace,” the Hungarian leader proclaimed, accepting with alacrity. What he omitted, however, was the small print: membership demands a cool USD 1 billion upfront. Hungary’s coffers may be bare, but Orbán appears only too happy to oblige.

Viktor Orbán Miskolc rally
At a campaign rally in Miskolc last weekend, Viktor Orbán boldly proclaimed his vision of transforming Hungary from a serial borrower into a proud lender. Yet, amid the cheers, he conspicuously sidestepped the thorny question of how he plans to repay the nation’s ballooning debt—especially with lavish pre-election handouts now flowing to voters ahead of the general poll. Photo: FB/Orbán

A historic borrowing binge looms for 2026

Hungary’s economy has languished in recession since 2023, forcing the government to turn to foreign lenders. Beijing obliged in April 2024 with a EUR 1 billion loan, repayable by 2027. Now, according to the Government Debt Management Agency (ÁKK Ltd)’s 2026 blueprint, Budapest plans to raise a staggering EUR 9.6 billion via bonds and loans this year alone.

Of that, EUR 3.1 billion will service expiring foreign debts, with the remaining €6.5 billion plugging the state’s yawning budget deficit, as Népszava reported in December. Last year, the ÁKK already issued EUR 7 billion in foreign-currency bonds.

Trump’s global peace crusade with Orbán

The Gaza Board’s grand title belies its ambitions: Trump envisions deploying it worldwide once the Middle East is “settled”. Yet even government-friendly index.hu admits a glaring oversight—America neglected to loop in Israel. Cue the Israeli foreign minister raising merry hell with US Secretary of State Marco Rubio.

orban-trump-meeting
On his flight home from Washington, Orbán boasted of securing Trump’s blessing (hadshake) for a US ‘financial shield’ to safeguard Hungary. Yet in a swift rebuke, the President denied granting the Hungarian prime minister that. Photo: Facebook/Orbán Viktor

Orbán wasted no time: Trump invited over 60 world leaders, including Ursula von der Leyen—the European Council president Orbán loves to lambast as “pro-war” over Ukraine. With Trump as chairman, Hungary’s prompt acceptance signals the USD 1 billion transfer could be imminent.

10 Comments

  1. What a reckless idiot to blow $1 billion of the money of Hungarians on a vanity project to associate Orban’s name with peace in Gaza. That $1 billion could go a long way to relieving poverty in Hungary, for health care, for public transit. Hungary is broke and dictator Orban is throwing money out the window. If fascist entity Trump wants participants to pay $1 billion to participate in this project let other countries do it that can better affford it.

  2. To give Trump’s “Board of Peace” extra credibility he has invited wanted war criminal V. Putin to join it. There is no way Orban can give up the opporunity to mingle with close friends like Putin even if he has to blow $1 billion to do it. For a Hungarian family of four that represents approximately $450 gone. Imagine how far that money could go to help families that need it. If it was income tested you could give double that amount to the half of the population that needs it.

  3. The Orange Conman sent this offer to every leader in the world, he is only intrested in the 1$ billion. That money will go to a bank account he opened in Qatar and it will end up in his pocket.

    Let me ask you, what will the avarage Hungarian gain from being on this Sh!t-board?

  4. The $1 Billion is only payable if any member of the ‘board of peace’ decides to stay on after year 3 of the project. As usual the knives are out without knowing all the facts!!!.

    • You can join as a non-permanent member and not pay and you are out after three years or you can pay $1 billion and join as a permanent member. There is not much point in joining if you are not helping pay the bill for Gaza reconstruction with the $1 billion payment. That is like the Scotsman who writes to a newspaper saying if you don’t stop calling Scots cheap I will stop borrowing your newspaper.

  5. The notion that Magyar Péter and his backers are somehow going to rectify Hungary’s financial position is an incredibly naive analysis of the situation.

    The recently departed Drabik Jánós spoke many times to make people aware that, until we choose to reassert our own independent national financial systems, we will all be subject to an oppression that, faceless, far exceeds any straightforward oppression the totalitarian systems committed in the 20th century.

    Orbán Viktor’s economic and financial woes stem directly from this – that he has never chosen a truly independent and comprehensively concerted economic path for Hungary, but, rather, has chosen, ad hoc, to swim skillfully in a large unHungarian fish-tank ü bandaging the economy here and there.

    At best a Magyar Administration would do is put a window-dressing over this reality that, though Lake Balaton looks like good Hungarian swimming, it is not swimming in Hungary, because Hungarians simply do not own the ground that Balaton rests on or is surrounded by.

    Until that changes, it does not matter whose face appears at Wikipedia, under the article ‘Hungarian President’.

    • Mouton is a Kremlin bot who has been masquerading as a Russophile American. Fidesz has had total control of the Hungarian economy and life for 15 long years. How people live today is the direct consequence of what Orban and his fellow theives have done to Hungary. The government is responsible and no one else is to blame but them.

    • Fresh off Davos – which was very inspiring, actually. @Mouton – you should go … Broaden your mind. An intellectual and moral compass – as Mr. Schwab intended it.

      Facts and data.

      Hungary maintains significant economic sovereignty within the EU framework. We control our monetary policy (HUF versus EUR, anyone), fiscal policy, and regulatory environment.

      Our Politicians have been pursuing distinctly independent economic policies since 2010. The private pension funds, imposing special taxes on foreign dominated sectors, and diversifying trade partnerships beyond the EU to include China and Russia. The Hungarian economy is mixed. Our unemployment rate is low, industrial growth doing well. However, we have persistent high inflation, dependent on EU funds and foreign direct investment – Germany in particular.

      While foreign ownership in certain sectors (retail is notably substantial), this reflects Hungary’s integration into global markets rather than a loss of sovereignty. This trade-off has brought us significant investment, jobs, and economic development. Honestly, cannot imagine where we would be without this.

      Speaking of oppression and totalitarianism … Spoke with Alistair Campbell (former adviser to Mr. Blair). Alistair hosts The Rest is Politics youtube channel and he – with Rory Stewart – interviewed the recently released opposition leader of Belarus at the Forum. Worth a watch, I wager!

  6. The CONTRITION – by the in-coming Hungarian Government post the Spring 2026 national elections, after the “in-glorious” and rightful outing DOWNFALL of Victor Mihaly. Orban, the contrition to the European Union WILL provide, be “signed off” the release of FUNDS held by the European Union through the Orban led Fidesz Government breaking of Law’s.
    Orban his Government have Gargantuan DEBT to the European Union, which is a DEBT on individually every Hungarian citizen, that is whilst the name Victor Mihaly. Orban remains in name as the Prime Minister of Hungary and his Fidesz Government.
    Orbans “getting” rid off – will allow through our contrition to the European Union a negotiated re-payment program – that will not further destroy hinder prospects of a FUTURE for Hungary without the name Victor Mihaly. Orban his Fidesz Government being in POWER.
    Grow’s BIGGER, clearer in the Face’s of all Hungarians, the FACT, that we individually as a country have been abused, used, exploited – feed lies and fabrications of truth & facts – by Victor Mihaly. Orban and his Fidesz Government.
    In the course combined of (20) twenty years he Victor Mihaly. Orban has acted as the Prime Minister of Hungary his Fidesz Government and what has been DELIVERED to us ???
    A cataclysmic economic and financial MESS – a country of HUMONGOUS Government Debt inclusive to the European Union Debt, that is the individual DEBT of all Hungarians and in the name Hungary.
    Victor Mihaly. Orban – his Fidesz Government have to the name of our country Hungary, in the European and Global World of country’s of DEMOCRACY or that have “respect” for the word Democracy – SMASHED trust and respect for the name of our country Hungary.
    Nothing, absolutely NOTHING, nothing does the name Victor Mihaly. Orban and Fidesz – nothing do they HAVE to give – to CONTRIBUTE to the FUTURE of Hungary – Nothing.

Leave a Reply

Your email address will not be published. Required fields are marked *