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Hungary's Magyar Signals Caution on Growth Forecasts Amid Budget Audit

Hungary's newly elected Prime Minister Peter Magyar has tempered expectations for economic expansion this year, projecting growth of approximately 2%. Magyar cautioned that inherited fiscal irregularities prevent definitive financial projections. Magyar, who secured a decisive electoral victory against incumbent Viktor Orban in April, disclosed evidence suggesting the previous administration manipulated budget figures. The Fidesz party has rejected the allegations. The fiscal discrepancies have created substantial uncertainty around Hungary's medium-term economic outlook. Magyar's administration faces the challenge of restoring confidence in official financial data while establishing credible budget forecasts. The disputed budget documentation underscores the complexity of the transition as Hungary's new government charts its fiscal course.