Magyar's Pledge to Reignite Hungary's EU Future

Hungarian opposition leader Peter Magyar aims to unlock EU funds and hold a referendum on Ukraine's EU membership if elected. Meanwhile, Hungary faces economic challenges with potential credit downgrades, market instability, and political tension between Prime Minister Viktor Orban and the EU over rule-of-law issues.

Hungarian opposition leader Peter Magyar has promised to secure billions of euros in suspended European Union funding to revitalize the economy if he wins the election next year. He also plans to hold a referendum on Ukraine's potential membership in the EU.

Standard & Poor's recently downgraded Hungary's credit rating outlook to negative due to fiscal instability from international trade conflicts, decreased EU funding, and high debt servicing amid economic loosening in anticipation of the 2026 election. Prime Minister Viktor Orban has repeatedly clashed with the EU over rule-of-law reforms, resulting in funding suspensions that hamper economic growth burdened by persistent inflation.

Magyar's center-right Tisza Party is gaining ground over Orban's Fidesz in the polls amid economic stagnation and external threats from US tariffs on EU imports. Magyar argues that unlocking EU funds could significantly bolster Hungary's economy and intends to implement a stable economic policy to manage debt costs effectively.

(With inputs from agencies.)