Hungary’s opposition leader, Peter Magyar, announced plans on Saturday for a comprehensive economic program dubbed the “Hungarian New Deal,” aimed at revitalising the country’s sluggish economy. Magyar stated that, if elected, his party would prioritize large-scale investments and introduce more predictable economic policies.

Magyar’s party, Tisza, currently leads in several opinion polls and is emerging as a significant challenger to Prime Minister Viktor Orbán, who has been in office for 15 years. The Hungarian economy has recently faced difficulties, including high inflation and slow growth.

Additional pressure on the country’s economic outlook may come from international trade developments. A newly announced 30% tariff on European Union imports by former U.S. President Donald Trump could further complicate recovery efforts for export-reliant countries in Central Europe.

Speaking at Tisza’s party congress in Nagykanizsa, Magyar emphasised the need for economic reform, promising to increase investment, tackle corruption, and reclaim state-owned assets he claimed were misappropriated in recent years.

The proposed economic plan includes several major initiatives:

• Annual healthcare funding increases totalling 500 billion forints (approximately $1.5 billion)

• A broad housing program focused on rental and home construction

• Modernization of state railway infrastructure using EU and domestic funding

• Support for energy efficiency improvements in homes

• Increased investment in the education sector

Magyar, a former government official who entered the political spotlight last year, also reiterated his commitment to restoring access to roughly 20 billion euros in EU funds that have been withheld due to concerns over governance and the rule of law. The current administration disputes these concerns.

Hungary’s next parliamentary elections are scheduled for early next year, although the exact date has not yet been announced. Meanwhile, parliament recently approved the 2026 budget, which includes significant tax cuts targeting families, a key voter base for the current government.

At the party congress, some attendees expressed a strong desire for political change. “People are tired of the current system. Tisza represents that change,” said Edit Piroska Borsi, a retired teacher attending the event.