[Ticker] Hungary’s forint hits record low, piling pressure on Orbán

EU Reporter

The Hungarian forint fell to a record low against the euro on Monday, piling pressure on prime minister Viktor Orbán to reach a deal with the EU over funds held up due to rule-of-law concerns. The forint’s weakening comes on top of double-digit inflation, and surging energy costs. Hungary is also burdened with a large budget deficit after Orbán’s spending spree to secure an election win in April, Reuters reported.