Hungary currently does not meet any of the criteria for adopting the euro. Prime Minister Peter Magyar believes that the country can adopt the single European currency around 2030, Reuters reports.
According to him, reducing the country's public debt level will be the most difficult task. The actions of former Hungarian Prime Minister Viktor Orban have pushed the budget deficit significantly above initial plans and brought Hungary's credit rating closer to the brink of downgrade.
Magyar welcomed Eurogroup President Kyriakos Pierakakis for talks in Budapest. Pierakakis said the Eurogroup would support Hungary's efforts to join the eurozone.
The Hungarian prime minister had earlier said the deficit this year could reach 6.8% of GDP.