HSBC raised Hungary's rating to overweight from neutral after Tisza party secured supermajority with 52.4% vote, 136 seats.
The supermajority could unlock up to €18 billion frozen EU funds, including €8.4 bn cohesion and €9.5 bn COVID‑19 recovery aid.
HSBC expects tax reforms—lower‑income relief, VAT cuts on healthy food/medicines, simpler corporate taxes, expanded flat‑rate regime—to boost growth.
HSBC's ML valuation shows Hungarian market trades at ~40% discount to fundamentals, the widest gap among emerging markets.