It is my great pleasure and honor to welcome you on the website of the Fiscal Council of Hungary. My hope is, that by following the best practices of my predecessors,  and keeping transparency in our utmost focus, this website can serve as the source of information related to the work of the Council, by providing continous and on-time contents with all the necessary information available for those interested in our work.

Gabor Horvath

Chairman of the Fiscal Council

The Fiscal Council was created under the Act LXXV of 2008 on Cost-efficient State Management and Fiscal Responsibility. The Act was adopted by the Parliament, in order to promote the creation and maintenance of the discipline, transparency and long-term sustainability of fiscal policy and to foster the long-term competitiveness of Hungary through fiscal means, in consideration of the requirement of justice between present and future generations and the expected growth of public expenditures owing to the aging of society in the forthcoming decades. The Act CXCIV of 2011 on the Economic Stability of Hungary followed the same thoughts and goals, and had assigned new tasks to the Council that has been acting since 2009.

The Council was trusted with a very important task, namely to make comments on the draft of the Act on the Central Budget, on the planning and execution of the budget, the use of public funds and the state of public finances, moreover to make comments on a half-yearly basis on any issues related to the planning and execution of the budget or the use of public funds.

Fulfilling these tasks is an extraordinary responsibility for those who can strengthen the economic stability of Hungary. Therefore, in the course of performing its task, in addition to the findings of the State Audit Office and the Hungarian National Bank, the Council intends to rely on the evaluations and prognoses of domestic research and analysis institutes, international organizations, and leading market analysts in the future.

The President of the Republic of Hungary appointed Mr. Gábor Horváth to the position of Chairman of the Council for a period of six years, with effect from January 10, 2024. According to the provisions of the relevant law, the Fiscal Council thus always has three members: in addition to the Chairman Mr. Gábor Horváth, Dr. László Windisch, President of the State Audit Office, and Dr. György Matolcsy, Governor of the Magyar Nemzeti Bank are also members of the Fiscal Council.