Hungary’s Opposition Leader Unveils "New Deal" to Boost Economy Ahead of 2025 Election

Hungary's opposition leader Peter Magyar announced a bold economic plan, the “Hungarian New Deal,” aiming to revive the country’s inflation-struck economy ahead of the 2025 parliamentary elections. Speaking at a Tisza party congress in Nagykanizsa, Magyar pledged to drive economic growth through large-scale investments, policy predictability, and anti-corruption reforms.

Magyar’s center-right Tisza party has surged ahead of Prime Minister Viktor Orban’s ruling Fidesz in recent polls, marking the most significant challenge to Orban’s 15-year grip on power. The economy, hit by high inflation and sluggish growth, remains a key voter concern. Further complicating the outlook, former U.S. President Donald Trump’s proposed 30% tariffs on EU goods could hinder Central European exports and Hungary’s recovery prospects.

Tisza’s Hungarian New Deal outlines several major initiatives, including annual healthcare investments of 500 billion forints ($1.5 billion), a nationwide home-building and rental housing program, railway modernization using EU and state funds, and household energy efficiency upgrades. Magyar also stressed a renewed focus on education funding and infrastructure.

A former government insider, Magyar has positioned himself as a reformist alternative, vowing to reclaim state assets he claims were lost to corruption over the past 15 years. He also promised to restore Hungary’s access to roughly €20 billion in suspended EU funds, frozen over Brussels’ concerns about democratic backsliding and graft under Orban’s leadership—allegations the prime minister rejects.

Although no exact election date has been confirmed, the contest is expected early next year. Orban’s recently passed 2026 budget includes tax cuts for families, a key Fidesz voter base. Still, growing public dissatisfaction may fuel a political shift. “People are fed up with this regime,” said retired teacher Edit Borsi. “Tisza offers real change.”