Hungary's next PM says frozen EU funds will be paid out soon
Summary
Hungary's Prime Minister-elect Péter Magyar has met EU leaders and said frozen EU funds will soon be released to Hungary. The funds were blocked due to concerns over corruption and rule-of-law issues under the previous government led by Viktor Orbán.Key Facts
- Péter Magyar's party won the Hungarian election on April 12, ending 16 years of Viktor Orbán's rule.
- Magyar met European Commission President Ursula von der Leyen and called the talks constructive.
- EU funds frozen because of corruption and democratic concerns under Orbán's government are expected to be unlocked soon.
- Magyar aims to secure €10.4 billion from the EU's Covid-19 recovery fund before its August expiration.
- An additional €6.3 billion in cohesion funds and €16.1 billion in defense loans are also expected to be accessed.
- Magyar’s party holds a two-thirds majority in Hungary's parliament, allowing constitutional changes.
- The new government plans reforms to meet EU conditions like no corruption and judicial independence.
- Magyar seeks to improve relations with Ukraine and EU member states after Orbán’s controversial policies.
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