Hungary targets sub‑3% budget deficit by 2030 as it rolls out €16.4 bn energy plan

The Hungarian government announced a programme to bring the 2026 budget deficit down to about 7.5% and to push the deficit below 3% by 2030, ahead of a planned euro adoption. Prime Minister Magyar Péter said the state has secured a €16.4 billion release of EU funds together with European Commission President Ursula von der Leyen.

To support the fiscal goal, the Recovery and Resilience Facility will fund 868 billion forints of energy‑system upgrades, including wind‑farm tenders, a 600 billion forint EU‑backed electricity‑grid project, and measures to simplify solar‑panel and geothermal connections. The plan is presented as a response to a worsening energy crisis caused by the war‑related oil‑import shock, low Danube water levels and reduced output at the Paks nuclear plant. Analysts note that despite investor unease, the budget‑deficit target and the energy‑modernisation package aim to stabilise inflation and restore confidence.