Hungary could meet the Maastricht criteria for adopting the euro by 2030, Prime Minister Peter Magyar said at a press conference on June 26, adding that the introduction of the common currency would not require austerity measures, according to state news agency MTI.

Speaking after talks in Budapest with Eurogroup President and Greek Finance Minister Kyriakos Pierrakakis, Magyar said the government's objective was to create the financial stability necessary for euro adoption by the end of the decade.

He said restoring domestic and international investor confidence, ensuring the proper use of European Union funds and improving financing conditions would be essential to achieving that goal.

Magyar described reducing public debt as the biggest challenge among the Maastricht criteria, but said lower borrowing costs could generate budget savings of up to HUF100bn (€280mn) annually, freeing up resources for economic development and improving public services, key election pledges of the Tisza Party.

Magyar said declining government bond yields and the strengthening of the forint reflected improving investor confidence, adding that yields on Hungarian sovereign debt had fallen below comparable levels in both Poland and the United Kingdom.

The benchmark ten-year Hungarian bond yield has dropped from 7.5% to 5.1%, but yields have also fallen sharply on the short end. State debt manager AKK sold HUF20bn in three-month T-bills at the last auction amid lower demand. The average yield was 5.46%, 7bp above the secondary market benchmark yield.

According to Magyar, adopting the euro would provide a more predictable economic environment and strengthen fiscal discipline by limiting persistent budget deficits and high inflation.

He also said public support for joining the euro area was strong and stressed that no decision on introducing the common currency would be taken without consulting the public.

Kyriakos Pierrakakis said the Eurogroup stood ready to support the country on its path towards euro adoption. Hungary's revised resilience plan, submitted last week, could be approved at the July 10 meeting of Ecofin, he added.

At the press briefing, Finance Minister Andras Karman said the revised 2026 budget would be submitted to parliament at the end of August, while the draft 2027 budget would be tabled by the end of October. This would mark the return to the previous practice of discussing the following year's budget in the autumn.

Speaking at a recent conference, OTP Bank analyst Gergely Tardos said financial markets appear to be pricing in growing confidence in the incoming government and its economic policy agenda. A key factor behind the improving sentiment is the expectation that relations with Brussels could normalise, paving the way for the release of suspended EU funds and a resumption of larger-scale inflows from the bloc. Investors see access to EU financing as critical for supporting growth, improving fiscal stability and reducing Hungary's external vulnerabilities.

Public support for adopting the euro remains strong in Hungary, with recent opinion polls showing broad backing for joining the single currency area. Nearly 80% of respondents said they would support replacing the forint with the euro, while fewer than a quarter opposed the move.

Support was particularly high among voters Tisza Party, with more than 90% favouring euro adoption in some form. By contrast, scepticism was more widespread among Fidesz supporters, around two-thirds of whom said Hungary should not introduce the common currency in the foreseeable future.

The survey also found that resistance to euro adoption was more common among older respondents, people living in rural areas and those with lower educational attainment.

The results broadly mirror findings from the latest Eurobarometer survey, which showed a record 80% in favour of the common European currency, up 5pp from 2025 and among the highest levels recorded in non-euro EU member state.