Hungary’s leader and a top French official rejected the idea of former strongman Viktor Orban leading the United Nations, as the race to find the next leader of the global organization heats up.

Hungary’s central bank kept interest rates unchanged for a second month with Governor Mihaly Varga pointing to market reaction to the government’s fiscal plan as a factor affecting future moves.

Hungary’s government said it plans to join the euro area without delay, with preparatory work starting as soon as next year and the budget placed on a path to meet entry criteria by 2030.

Hungary’s central bank is set to keep interest rates unchanged for a second month after Prime Minister Peter Magyar unveiled his budget plan for next year.

Hungary will cut the budget deficit to 4.9% of economic output next year, Prime Minister Peter Magyar said on Monday, signaling the government is ready for an ambitious reduction in spending on the way to potential euro membership.

Hungary needs to significantly narrow its budget deficit to make debt financing sustainable and to put the country on a path toward adopting the euro, Prime Minister Peter Magyar said.

Hungary could adopt the euro as early as 2031 if the government set an ambitious goal of meeting the common currency criteria by 2029, according to central bank Deputy Governor Zoltan Kurali.

The Hungarian government has no plans to send military equipment to Ukraine, according to the deputy foreign minister, sticking with the policy adopted by the previous nationalist leader Viktor Orban.

Hungary shouldn’t delay the process of joining the euro area’s ERM-2 antechamber if the government’s fiscal plans next month look credible, central bank Deputy Governor Zoltan Kurali said.

Spending on AI infrastructure by the five largest US hyperscalers is set to increase by more than half next year to $1.2 trillion, according to strategists at Goldman Sachs Group Inc.

Hungary’s central bank paused its interest rate cuts after three consecutive reductions as policymakers weigh the potential lowering of their inflation target.

Hungary’s central bank is set to pause its interest rate cuts after three consecutive reductions as policymakers weigh global risks and a potential lowering of their inflation target.

Hungary can meet European Union regulation to completely wean the country off Russian gas in a year’s time, the energy minister said, in a significant shift from the policies pursued under former Prime Minister Viktor Orban.

Viktor Orban’s son-in-law is selling most of his stake in a listed bank at a time when key businessmen with ties to the previous regime are being swept up in corruption probes.

Hungary’s new government filed a criminal complaint alleging overspending on Viktor Orban’s social media content, in one of the most significant legal steps yet related to the former premier’s inner circle.

Hungary posted its largest monthly budget surplus on record in July, extending an improvement in public finances as Prime Minister Peter Magyar seeks to rein in one of the European Union’s biggest fiscal shortfalls.

Hungary’s central bank is poised to lower borrowing costs for a second straight month as subdued inflation allows policymakers to press ahead with their monetary easing cycle.

Prime Minister Peter Magyar proposed chess legend Judit Polgar as Hungary’s next president, saying the country needs a head of state “every Hungarian can be proud of“ after the removal of Tamas Sulyok.

Hungary’s $20 billion electric-vehicle industry, which has long enjoyed the protection of former premier Viktor Orban, is facing a reckoning as the country’s new leadership cracks down on environmental violations and looks to raise taxes.

Hungary’s government unveiled plans for a new investigative authority with the power to prosecute suspects and recover misappropriated public assets, fulfilling one of Prime Minister Peter Magyar’s key anti-corruption pledges.