Hungarian Prime Minister-elect confirms EU funds could be released soon
Hungarian Prime Minister-elect Péter Magyar indicated that EU funds could soon be released, following meetings with European Commission President Ursula von der Leyen regarding corruption concerns.
Magyar’s negotiations could unlock approximately €10 billion in post-pandemic funds, crucial for Hungary’s economic recovery, pending reforms on corruption and rule of law.
“EU funds will soon start arriving in Hungary,” said Péter Magyar after constructive talks in Brussels, emphasising reforms must respect national interest.
Key developments
Hungarian Prime Minister-elect Péter Magyar announced that EU funds could soon be released to Hungary after a productive meeting with European Commission President Ursula von der Leyen in Brussels.
The discussions aimed to address the unlocking of billions in EU funding, currently frozen over corruption concerns, with Magyar emphasising the need for swift progress ahead of an August deadline.
Magyar says EU money to arrive in Hungary ‘soon’ after meeting with von der Leyen
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Hungarian Prime Minister-elect Péter Magyar said EU funds could soon be released to Hungary following a series of high-level meetings in Brussels on Wednesday.
Magyar met European Commission President Ursula von der Leyen in their first direct talks since his election victory on 12 April. The pair discussed steps to unlock billions of euros in EU funding currently frozen over concerns about corruption and rule of law.
Hungary risks losing around €10 billion in post-pandemic funds intended to support its economy unless Magyar secures a deal before an August deadline. Magyar will return to Brussels for an official visit on 25 May, once in office.
Hungary is also the only EU member state still waiting for approval for its large-scale defence plan, known as SAFE, which would be financed through low-interest European loans issued by the European Commission worth about €16 billion. It is understood that Brussels held back on a decision in anticipation of the general election result.
After meeting with von der Leyen, Magyar said in a social media post that talks were “highly constructive and productive” as he called for discussions to move at speed.
While promising that “EU funds will soon start arriving in Hungary”, Magyar also said that the cash, which must be accompanied by reforms concerning rule of law, will not come at the expense of Hungary’s national interest.
His comments highlight the delicate balance Magyar will need to strike; aligning with EU institutions to unlock billions of euros needed to revive the Hungarian economy, while also presenting himself as an independent leader capable of making his own decisions before Brussels after years of strained relations between Budapest and the EU.
In separate remarks, Commission President von der Leyen said the two had discussed “the steps necessary to unlock EU funds earmarked for Hungary” held up during the premiership of Viktor Orbán, a long-standing critic von der Leyen’s presidency.
With Magyar, von der Leyen struck a more upbeat tone.
“The Commission will support your efforts to address these issues and realign with shared European values,” she said after the meeting. “For a prosperous Hungary at the heart of our shared European home.”
Magyar will be sworn in at a ceremony in Budapest on 9 May, coinciding with Europe Day.