Hungary PM Magyar unveils budget deficit reduction plan to 4.9% by 2027

Hungarian PM Peter Magyar announced a fiscal consolidation plan targeting a budget deficit of 4.9% of GDP by 2027, down from an estimated 7.5% this year. The plan signals a shift toward austerity, but details on spending cuts or revenue measures remain unspecified. This matters as it could affect Hungary's fiscal credibility and EU relations, though market impact is limited without concrete measures.