Péter Magyar: It's a miracle that András Kármán still has a hair left after the budget was compiled

Hungarian Finance Minister Péter Magyar discussed the challenges of budget preparation, calling it a "masterpiece" despite constraints. He acknowledged the larger deficit inherited from the previous government and the need for creative cuts to meet election promises. While some ministers expressed concerns, consensus was reached. The budget includes a reduction in personal income tax for minimum wage earners, funded by a proposed wealth tax. The government plans to maintain utility price reductions and improve energy efficiency in housing. Additionally, a new housing support program was introduced, with some uncertainties remaining. The minister also announced an increase in the advertising tax affecting media and tech companies. Constitutional reforms are set to begin soon, with public input expected before a new constitution is adopted.