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Story summary
- Prime Minister Peter Magyar announced a 2027 budget targeting a 4.9% GDP deficit.
- The plan cuts deficit from the 7.5% level inherited from the previous government.
- It adds a 300 billion-forint contingency reserve and over 2 trillion forints in spending.
- A 200 billion-forint wealth tax, a 100 billion-forint energy surcharge and an 11% corporate tax for firms over €500 million are introduced.
- The forint rose to four-week highs against the euro after the deficit announcement.