EU funds restored to Hungary after reforms
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The European Commission proposed releasing frozen funds to Hungary after determining the country addressed concerns about corruption and public procurement.
For years, the EU had withheld 55 percent of cohesion funds, a program supporting economic and social reforms in lower-income member states, from Hungary due to worries that government practices under Viktor Orbán threatened the EU’s financial interests. In May, Peter Magyar became Hungary’s prime minister and prioritized regaining access to these funds.
Since then, Budapest changed over 100 laws and joined the European Public Prosecutor’s Office (EPPO) to strengthen rule of law and address issues with public contracts, corruption, and conflicts of interest. Ursula von der Leyen, President of the European Commission, stated Hungary took “significant steps” to protect the EU’s financial interests. The proposal now goes to the Council for approval, and officials expect it to be a positive development for both Hungary and the European Union.
The Commission will continue to work with Hungarian authorities and monitor progress to ensure the reforms continue.
