Hungary’s New Finance Chief Pledges Euro Path, Policy U-Turn (1)

Hungary’s new finance minister pledged to tap frozen European Union funding within months and to meet all criteria for euro adoption within four years as part of a “radical” economic policy shift after Viktor Orban’s rule.

Prime Minister Peter Magyar’s government will change taxation and economic planning to make fiscal targets more transparent and predictable, Finance Minister Andras Karman said. He also plans to end the labor-intensive approach that was based on a weakening currency under Orban, Karman added.

“Hungary’s economic policy doesn’t just need a simple course correction, it needs a change of direction,” Karman told lawmakers ...