After a series of high-level discussions in Brussels on Wednesday, Hungarian Prime Minister-elect Páv Magyar stated that EU funding could soon be granted to Hungary. On April 12, Magyar had his first face-to-face meeting with Ursula von der Leyen, President of the European Commission, following his election victory. The two talked about how to release billions of euros in EU financing that is presently blocked due to worries about rule of law and corruption.
If Magyar doesn’t reach an agreement by an August deadline, Hungary might lose over €10 billion in post-pandemic subsidies meant to help its economy. After taking office, Magyar will make a formal trip back to Brussels on May 25.
Additionally, Hungary is the only EU member state currently awaiting approval of its massive defense plan, called SAFE, which would be funded by low-interest European loans totaling roughly €16 billion from the European Commission. It is believed that Brussels postponed making a decision until after the outcome of the general election.
While guaranteeing that “EU funds will soon start arriving in Hungary,” Magyar added that Hungary’s national interest would not be compromised by the money, which must be accompanied with measures pertaining to the rule of law.
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