"The budget is built on peace and supports families raising children," Minister Gulyás said, underlining that both continuity and targeted increases in family benefits define the draft.
Among next year’s major changes, the government will double the child tax allowance and extend personal income tax exemption to mothers with two or three children. The budget maintains key provisions such as the 13th month pension, rising minimum wage, and utility price subsidies. The minister also noted that wage increases will continue, and expressed optimism that international developments could further boost economic growth.
A key topic of the session was a national consultation-style vote regarding Ukraine’s EU accession. All citizens with a registered address will receive a letter asking for their opinion on the matter. Gulyás stressed the significance of broad participation: “The voters' opinion is decisive in this crucial matter.”
Economic policy was further detailed by National Economy Minister Márton Nagy, who presented the macroeconomic backdrop: Hungary’s GDP is projected to grow by 4.1% in 2025, with inflation expected to fall to 3.6%. The budget deficit is targeted to drop to 3.7%, while public debt could fall to 72.3% of GDP. Total government revenues are expected to reach HUF 34 trillion, with expenditures close to HUF 35 trillion.
Family support remains a priority, with HUF 4,800 billion allocated for family policies and another HUF 800 billion for utility cost protections, amounting to a combined HUF 5,600 billion in support. An additional HUF 210 billion will fund the doubling of the family tax allowance, and HUF 7,700 billion will cover pensions, including a HUF 24 billion pension premium.
Defense spending will meet the 2% of GDP target, while HUF 4,900 billion will go to economic development and HUF 1,300 billion to agriculture. Union funds are also expected to contribute significantly, with HUF 2,360 billion projected for 2026.
Minister Nagy also announced that the bank tax could be halved for institutions purchasing government bonds and confirmed the retention of the excess profits tax while certain sectors continue to generate extra profits. Simplifications to the tax system and new incentives for R&D were also included.
The ministers also addressed political controversies, including allegations by opposition figure Péter Magyar. Gulyás firmly rejected Magyar’s claim that Prime Minister Viktor Orbán supported Ukraine’s EU membership, reiterating the government’s consistent opposition to rapid enlargement without proper preparation and warning of severe disadvantages for Hungary.
The session concluded with a reaffirmation of Hungary’s peaceful and stable path. “Without a peace-oriented budget,” Minister Nagy emphasized, “there would be no pension or wage increases this year.”