The Hungarian government is to assume emergency powers to respond more quickly to challenges created by the war in Ukraine.
Prime Minister Viktor Orban announced the plans on Tuesday.
He said while the world is on the edge of an economic crisis, Hungary needs to ensure that it protects families' financial security.
He also said Hungary would stay out of the Ukraine conflict.
"We see that the war and the sanctions from Brussels on Russia have led to massive economic upheaval and drastic price increases.
The world is on the brink of an economic crisis.
Hungary must stay out of this war and protect the financial security of families."
The first set of measures are expected to be announced on Wednesday.
Orban won his fourth consecutive term in the country's April 3rd elections,
but faces annual inflation of 9.5% and a surging budget deficit, following a pre-election spending spree.