Hungary PM Magyar sees deal next week on releasing EU funds
Hungary aims to settle rule-of-law disputes and secure up to €10.4 billion in frozen recovery money before an August 31 deadline.
- Hungarian Prime Minister Peter Magyar plans to sign a political agreement with the European Commission in Brussels next week to unlock recovery funds frozen under the previous government by the August 31 deadline.
- The European Union blocked these funds over rule-of-law concerns, and Magyar warned that meeting the August 31 deadline requires amending laws and transforming institutional systems to resolve outstanding issues.
- Rejecting certain Commission demands on windfall tax phase-outs, Magyar's government is also reviewing the €16bn defense loan request from the previous administration while arguing budget requests "contradict each other."
- The Hungarian government will submit a revised spending plan by the end of May, prioritizing infrastructure projects like suburban trains, railway renovation, and electricity grid development deemed "truly useful for Hungarian society."
- After inheriting a soaring budget deficit and an economy that barely exited recession, Hungary needs these funds to stabilize state finances while projecting 2026 GDP growth at around 2%.
19 Articles
19 Articles
The money was withheld due to the view that EU law was violated.
The new Hungarian Government hopes to meet all the requirements required by the European Union (EU) to release by 31 August EUR 10.4 billion in frozen funds due to the anti-democratic policies and corruption of the former executive. During a speech at the Globsec defence forum in Prague, broadcast live via the Internet, Hungarian Foreign Minister Anita Orbán confirmed that her Government, led by conservative Prime Minister Péter Magyar, will tra…
The new Hungarian Prime Minister will meet Ursula von der Leyen at the beginning of next week. Objective: to recover the billions of euros of European funds blocked for breaches of the rule of law "We are in the hot centre of hate campaigns [...], it would be like in Switzerland or Singapore!" Péter Magyar makes every effort to distract himself from Viktor Orbán, while he was also a former member of Fidesz. Until organizing guided tours of the K…
Hungary's Magyar seeks EU funds deal 'next week' in Brussels
Péter Magyar said he hopes to reach an agreement with the European Commission next week to unlock €10.4bn in recovery funds that were frozen under the previous government of Viktor Orbán, as an August deadline nears.
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