Hungary’s election: what’s at stake?

Fidesz is looking the most likely to retain power in Hungary’s election this weekend, which will pave the way for four more years of tensions with the EU over the rule of law and raise the likelihood that EU fund inflows are withheld. From a macro perspective, the key challenge will be addressing high inflation and large twin deficits, which will require tighter fiscal policy and a prolonged period of high interest rates.