Posting on his Facebook page, PM Orbán shared details of the strategy, which is centered around boosting Hungary's economic growth to a range of 3-5% by 2025. He stressed that while the plan is not yet politically formalized, it is already taking shape. "We have the action plan," the prime minister noted, referring to it as a "peace budget" that is already drafted and ready to be implemented when needed.
PM Orbán emphasized that maintaining financial stability is crucial, particularly in the context of Hungary’s relationship with global financial markets. "We need a budget that preserves financial balance," he said, adding that this balance is necessary to ensure the country's credit rating remains intact. However, achieving the target growth will also require bold steps to stimulate the economy, and the prime minister expressed confidence that Hungary is capable of delivering such growth.
Central to this plan is a strategy to negotiate substantial wage increases. PM Orbán mentioned that while the government aims to remain on the sidelines of discussions between employers and trade unions, the outcome will likely result in a significant wage increase. "There is an ongoing negotiation between employers and trade unions regarding next year’s wages, and it’s clear that a substantial rise in the minimum wage is being negotiated," PM Orbán stated. He further highlighted the government’s role in endorsing the final agreement and noted that recent wage increases in sectors like healthcare and education would continue, including what he described as "the largest teacher salary increase in Hungarian history," set to extend into 2025.
In addition to wage increases, the prime minister stressed the need to adjust family support programs to compensate for inflation. He pointed out that inflation had eroded the value of family benefits, and that these needed to be increased accordingly. "We need to double the child tax credit by 2025," PM Orbán declared, crediting Minister Hankó for already drafting the necessary plans.
Another cornerstone of the peace budget involves providing more support to small and medium-sized enterprises (SMEs). PM Orbán lauded Minister Márton Nagy for his work on a new program resembling the historic Széchenyi Plan, where "for every forint invested by a small business, the government will match it with another forint." This program aims to bolster smaller businesses, ensuring they play a pivotal role in Hungary’s economic resurgence.
Reflecting on broader economic management, PM Orbán pointed out that the successful implementation of such an action plan requires well-coordinated economic governance. While acknowledging disagreements with central bank governor György Matolcsy, PM Orbán reassured that these were mostly superficial. "We are progressing well toward a coordinated economic governance system," he asserted, signaling confidence in the government’s ability to maintain a stable economic direction.
Discussing the upcoming transition in central bank leadership, PM Orbán referred to the need for a powerful “economic czar” to manage both fiscal and budgetary tools—a role previously held by Matolcsy before he became the central bank governor. "There has to be an Erhard," PM Orbán explained, drawing a comparison to the German post-war economic architect Ludwig Erhard. The prime minister suggested that the decision on who will take on this vital role will be influenced by the upcoming vacancy in the central bank, noting that the next governor and the economic czar will need to work closely together to ensure Hungary’s economic success.
PM Orbán's message was clear: the peace budget is not just about numbers, but about setting Hungary on a path toward sustainable growth, higher wages, and greater support for families and businesses. As the country gears up for 2025, the government is poised to drive an economic agenda that prioritizes financial stability while fostering growth and improving living standards.
With this new action plan, Hungary aims to balance its internal economic needs with the demands of a fast-changing global economy, ensuring that the country remains resilient and competitive in the years to come.