Hungary

Brussels would impose a carbon tax on the energy used by European households for heating and cooling and on fuel consumption. The measure would have disastrous consequences: the electricity and gas bills of Hungarians would increase 3.9 times from the current level, which would cost an average household an extra 575,000 forints a year. The price of petrol and diesel would rise above 870 forints per litre, which, along with increased transport costs, would exacerbate inflation.

Almost two-thirds of Europeans are concerned that no one has yet been held accountable for the historic terrorist attack against critical EU infrastructure. The protracted investigation allowed for the spread of theories, often politically motivated, which divided EU citizens’ image of the perpetrator. Half of those who expressed an opinion believe that the Russians blew up the pipeline, 21% believe it was the Americans, and 19% believe it was the Ukrainians.

The relevant committee of the European Parliament would ban imports of Russian gas and oil into the EU from 1 January 2026. The measure would have serious consequences for Hungary: it would lead to gasoline prices above 1,000 forints and a general energy crisis. Two-thirds of Hungarian adults therefore do not support the embargo.

According to the November 2025 survey of Századvég Konjunktúrakutató, household economic expectations continued to improve (+1.8 index points), while business economic sentiment also strengthened (+1.3 index points) from the previous month. Thus, the household index, measured on a scale of -100 to +100, improved to -10.7, while the business index to -9.6. The last time we measured a better prosperity index was in May 2022 for households and in April 2022 for businesses, i.e. 41 and 42 months ago, respectively.

Macro Monitor - September 2025

After Brussels’ preparations for war reached a new level, the Tisza Party raised the possibility of reinstating conscription. The move has met with significant public resistance: 80% of Hungarians reject the measure.

According to the October 2025 survey of Századvég Konjunktúrakutató, households’ economic expectations continued to improve slightly (+0.5 index points), while companies’ economic sentiment strengthened significantly (+3.7 index points) from the previous month. Thus, the household index, measured on a scale of -100 to +100, improved to -12.6, while the business index to -10.9. The October survey found that the biggest positive shift among households was in plans for future higher-value spending, while among companies, the strongest positive change was in the general economic sentiment.

Macro Monitor - August 2025

Századvég Konjunktúrakutató estimates that the Hungarian economy could grow by 0.8% in 2025, followed by 2.7% in 2026 and 2.3% in 2027. Consumption continues to support economic growth, but stronger external conditions are essential to achieve a sustainable growth path in the long term.

Tisza included Brussels’ goal of banning Russian energy in its programme. The measure would impose heavy costs on all Hungarians, and is therefore rejected by two-thirds of adults. However, the ban divides political camps: while 59% of Tisza voters support it, 96% of Fidesz-KDNP voters reject the move.

According to the September 2025 survey of Századvég Konjunktúrakutató, household economic expectations improved significantly (+2.1 index points), while business economic sentiment also strengthened (+0.5 index points) from the previous month. Thus, the household index, measured on a scale of -100 to +100, improved to -13.1, while the business index to -14.6. The September survey found that the most significant positive change for households was an improvement in inflation expectations, while for companies it was a strengthening of investment intentions.

Tisza’s austerity package would cause serious livelihood problems. The party’s measures would radically reduce household incomes while increasing their costs. The average Hungarian’s net income would fall from HUF 475,000 per month to HUF 346,000, i.e. by HUF 129,000.

It has been leaked that if Tisza were to win the election, they would impose severe austerity measures. The party would raise personal income taxes, abolish tax breaks, and ban Russian energy sources. The majority of Hungarians reject all elements of the Tisza package, a survey by Századvég found.

Péter Magyar would deliver on Brussels’ expectations and cut off Hungary from Russian energy sources. The ban would increase the annual electricity and gas bills of an average Hungarian family by HUF 510,000, and those of low-income families by HUF 540,000. More than a million households would not be able to afford it.

Macro Monitor - July 2025

The Tisza Party has adopted Brussels’ objective of banning Russian energy sources into its programme. The measure would have serious consequences: Hungary could buy less oil, which would raise the price of petrol to 1,026 forints per litre and diesel to 1,051 forints, according to an estimate by Századvég.

Péter Magyar announced that he would ban Russian oil and gas from Hungary, as requested by Brussels. The measure would increase Hungarian families’ electricity and gas bills by three and a half times the current level. The increase in utility costs would mean an extra cost of more than half a million forints per year for an average household.

According to the August 2025 survey of Századvég Konjunktúrakutató, household economic expectations improved significantly (+4.0 index points), while business economic sentiment also strengthened (+1.4 index points) from the previous month. Thus, the household index, measured on a scale of -100 to +100, improved to -15.2, while the business index to -15.1. The August survey found that the most notable positive change for households was an improvement in their economic sentiment, while for companies it was improved expectations regarding the future of the EUR/HUF exchange rate.

Macro Monitor - June 2025

According to the July 2025 survey of Századvég Konjunktúrakutató, household economic expectations deteriorated slightly (by 0.4 index point), while business economic sentiment stagnated compared to the previous month. Thus, the household index, measured on a scale of -100 to +100, changed to -19.2, while the business index remained unchanged at -16.5. The July survey found that the most notable positive change for households was an improvement in their financial situation, while for companies it was improved expectations regarding the future of the EUR/HUF exchange rate.