According to the President of the Fiscal Council in Hungary, the country is capable of meeting the necessary requirements for adopting the euro by the end of 2024. The President of this body made his statement on the topic of adopting the euro in Hungary during a meeting of the Fejér County Chamber of Commerce and Industry. He emphasized that the consumer price index, which was 25.4 percent in February, is expected to decrease to approximately three percent by the summer of 2024.
Is Hungary considering the adoption of the euro in the near future?
Public
Hungary
Author: Kristina Dosen
Category:
Fiscal subject related
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Content accuracy validation date:
01.06.2023
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Additionally, it is projected that Hungary's public debt will decrease to below seventy percent by the end of the following year, and the general government deficit will be around 2.9 percent. The Fiscal Council in Hungary also provided a positive economic forecast, suggesting that Hungarian GDP is expected to grow by approximately one percent this year and between 3.5 and 4 percent next year. With inflation expected to drop below ten percent by the end of this year, a more favorable, lower inflation environment is anticipated during 2024.
It is worth noting that the adoption of the euro in Hungary has been a topic of discussion since the country's accession to the EU in 2004, but the government has not actively pursued it until 2010. This prediction is not officially declared in any documents or publications but rather is an approximate estimation of how this process may unfold in the coming years based on the current data.
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