Hungary raises 2026 net debt issuance plan to $27 billion

Hungary has raised its 2026 net debt issuance plan to $27 billion, up from an initial target of $5.45 billion, according to the country’s debt management agency AKK. The increase is attributed to a larger budget deficit and the advance financing of European Union recovery funds. AKK CEO Gergely Tardos revealed that 87% of the increased net debt issuance has already been financed, and Hungary does not plan to conduct additional foreign currency bond sales this year due to anticipated EU recovery funding.

The agency projects foreign currency debt to make up 28.1% of total debt by the end of 2026, slightly lower than the 29.9% at the end of 2025, both remaining below the government’s self-imposed 30% limit. Tardos also indicated that next year’s financing requirements may be significantly lower, driven by Hungary’s efforts to reduce the budget deficit in preparation for euro adoption by 2030.

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