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During a meeting with Eurogroup president Kyriakos Pierrakakis and Prime Minister Péter Magyar, they discussed the progress made regarding the release of the EU funds as well as steps still needed to ensure these funds are utilized in Hungary, András Kármán said.
In addition to the challenges and milestones on the path to the euro, the discussion also covered the possibility of voluntarily joining the European Banking Union, ways to improve European competitiveness, and in particular, issues related to the development of capital markets, the finance minister said.
The prime minister presented in detail the Hungarian government’s economic policy priorities, its plans to kickstart economic growth, pursue responsible fiscal policy and create a predictable economic environment, Kármán said.
Hungary’s government has submitted the revised Recovery and Resilience Plan and it has been approved by the Commission.
This program still needs to be approved by the Economic and Financial Affairs Council at its next meeting on July 10, the finance minister said.
The sides agreed that the integration of European capital markets and the unification of their regulation must be strengthened as Europe is lagging behind the United States in this area, he added.
On the comprehensive review of the economic and budgetary situation inherited from the previous government, Kármán said the government wants to submit this year’s budget, based on realistic foundations and real numbers, by the end of August.
At the same time, they will also begin planning the 2027 budget, which will be submitted by the end of October.
In response to a question, he said the most important Maastricht criteria are the fiscal ones, those concerning the deficit and the public debt.
Kyriakos Pierrakakis said they had a good discussion on the European economy and the challenges of the future.
The Eurogroup supports Hungary’s eurozone accession aspirations, the plans and intentions of the Hungarian government and the Hungarian people, and is providing assistance in meeting milestones, he said.
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