Tisza aims to create conditions for adopting the euro by 2030

The incoming Tisza government intends to create the conditions for adopting the euro within four years, András Kármán, the Tisza Party’s fiscal policy expert told RTL Híradó.

Kármán said that the Tisza Party will first have to assess the country’s financial situation and hold consultations before it can set a target date for introducing the euro. He believes that the conditions could be in place by 2030, after which a positive decision on adopting the euro could be made, but under favorable circumstances, this could happen even sooner.

One of the conditions for adoption is price stability, but the Tisza government does not intend to achieve this through price caps, like the Orbán government did. “These state interventions are incompatible with a well-functioning market economy in the long term, so our goal will be to ensure they are no longer necessary and are phased out,” said Kármán. However, they would like to see a phase-out schedule that does not cause disruption or place an additional burden on consumers, which is why they would extend the price caps on food and drugstore products, set to expire on May 31.

As G7 reported last year, adopting the euro requires meeting the Maastricht criteria, which sets strict conditions on inflation, the budget deficit, public debt, and a stable forint exchange rate. Although much can change over a four-year cycle, introducing the euro within that timeframe still will not be an easy task. Economist Viktor Zsiday noted in a post on Tuesday that the support, political will, and opportunity are all present, so in his view, the euro could be introduced within a 5- to 7-year timeframe.