Hungary and the euro

Common card · No. 286176

While the Hungarian government has been planning since 2003 to replace the Hungarian forint with the euro, the government has not set a target date and the forint is not part of the European Exchange Rate Mechanism (ERM II). In 2023, György Matolcsy, governor of the Hungarian National Bank and former Minister of the National Economy stated that adoption of the Euro by Hungary could take place "perhaps around 2030 or a bit later", calling it "club of the rich" and saying that at that time, in Hungary, "the economy is unprepared for it". The forint is enshrined in the Hungarian constitution (Article K), which can be amended with a two-thirds parliamentary majority.

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