Hungary's Opposition Leader Unveils 'Hungarian New Deal' Amid Economic Woes

Hungary's opposition leader, Peter Magyar, announced an ambitious 'Hungarian New Deal' to rejuvenate the country's flagging economy through strategic investments and transparent policies if his party wins the upcoming elections. This move poses a significant challenge to Prime Minister Viktor Orban, whose government struggles with inflation and economic stagnation.

Saturday saw the imposition of 30% tariffs on EU imports by the U.S., adding pressure on Hungary's recovery efforts. Addressing supporters in Nagykanizsa, Magyar outlined plans to boost economic growth, fight corruption, and reclaim state-owned assets allegedly misappropriated over the last 15 years.

Key components of Magyar's strategy include healthcare reform with an infusion of funds, sizable housing development projects, modernization of state railways, and investments in educational and energy efficiency initiatives. A former insider, Magyar also vowed to unlock EU funds withheld over governance concerns, as Hungary gears up for elections with no set date yet.

(With inputs from agencies.)