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%.
22 Articles
22 Articles
THIS WEEK: Magyar heads to Brussels to unlock Hungary’s frozen EU recovery money by 31 August
Hungarian Prime Minister Péter Magyar is expected in Brussels to negotiate the release of €10.4bn in frozen EU recovery funds. In Cyprus, foreign affairs ministers meet informally to discuss Iran and Russia. A new strategy on humanitarian aid will be unveiled by the EU Commission on Wednesday.
Magyar: Hungary And Brussels To Sign Deal On Unlocking Billions In Frozen EU Funds
by Stefan J. Bos, Worthy News Europe Bureau Chief BUDAPEST (Worthy News) – Hungarian Prime Minister Péter Magyar said Saturday that negotiations on suspended European Union funds were “progressing well” and that he expects to sign an agreement in Brussels next week aimed at unlocking billions of euros for Hungary. Speaking to commercial broadcaster RTL, Magyar said he had recently held several conversations and exchanged letters with Ursula von …
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…
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