Márton Nagy, National Economy Minister, called the government's 2026 budget bill an "anti-war budget" at the start of debate of the draft legislation in parliament on Wednesday.

Minister Nagy said the 2026 budget aimed to mitigate the negative effects of the war in Ukraine and focused on support for families raising children, young Hungarians and pensioners.

The budget seeks to ensure the security of every Hungarian family, while allowing all Hungarians to "take a step forward", he added.

He said the budget also provided guarantees for the continuation of Hungary's work-based society.

Hungary's government will roll out Europe's biggest family tax cut programme in 2026, while maintaining the regulated utilities price scheme for households, ensuring pensioners get their annual bonus, protecting workplaces and creating new jobs, he said.

He noted that the 2026 budget bill assumed 4.1pc GDP growth and 3.6pc average annual inflation. The deficit target is 3.7pc of GDP.