Hungarian Prime Minister-designate Peter Magyar met with European Commission President Ursula von der Leyen in Brussels, signaling a potential breakthrough in releasing billions of euros in EU funds to Hungary.
Magyar in Brussels: Breakthrough in EU Funds Talks
European Commission President Ursula von der Leyen announced on Wednesday that she held a “very good conversation” in Brussels with Hungary’s future Prime Minister Peter Magyar. The discussion focused on the conditions for unlocking EU funds for Budapest, which have been suspended due to concerns about corruption and rule of law violations in Hungary.
“Very Good Exchange” in Brussels
Von der Leyen stated, “Very good exchange with Peter Magyar today in Brussels. We discussed the steps needed to unlock EU funds allocated to Hungary, which are frozen due to corruption and rule of law concerns.”
Magyar: Agreement Expected in May
Magyar also described the meeting with von der Leyen as constructive. “We agreed that as Prime Minister of Hungary, I will return to Brussels in the week beginning May 25th to finalize the necessary political agreement, allowing Hungary and Hungarians to receive their due EU funds – amounting to several trillion forints – as soon as possible. I would like to reassure everyone: the European Union is not imposing any conditions that would be contrary to Hungary’s national interests,” Magyar wrote on X.
He added that EU funds will soon begin to flow to Hungary, which will help launch the Hungarian economy and provide what is needed for a functioning country.
Billions of Euros at Stake
Under Orbán’s leadership, Hungary has lost access to approximately 17 billion euros, representing nearly 10 percent of the country’s annual GDP. 10 billion euros comes from the recovery fund launched after the Covid-19 pandemic; the deadline for spending these funds expires in August. The remaining 7 billion euros are funds from the EU’s seven-year budget, allocated for regional development. The current EU multiannual financial framework ends in 2027.
Conditions for Unfreezing Funds
The European Commission has linked the release of funds to Hungary to the implementation of reforms, including guaranteeing the independence of the judiciary and combating corruption.
