May 29, 2026, 3:33 p.mMay 29, 2026, 3:40 p.m
Péter Magyar and Ursula von der Leyen on Friday.Image: keystone
After the change of government in Hungary, the European Commission wants to release EU funds worth up to 16.4 billion euros for the country. The majority of the money should flow when reforms and investments decided by Hungary are implemented, said EU Commission President Ursula von der Leyen.
The new Hungarian Prime Minister Peter Magyar and his government acted quickly and decisively to fight corruption and restore the rule of law, said von der Leyen during Magyar’s visit to Brussels. Magyar spoke of a historic breakthrough after just a few weeks in government.
Ten billion should come from the EU’s Corona development fund – they have agreed on specific projects such as energy and housing, said von der Leyen. Before the money can be paid out, Hungary must submit an official plan with the projects and the other EU countries must also give the green light for the release. The funds from the EU’s Corona recovery program require that the reforms and investments be implemented by August 31st. Otherwise, Budapest risks losing the funds.
A further 6.4 billion euros should also flow to Hungary from the EU budget for structural support. Budapest is still waiting for approval for a defense loan applied for in Brussels from the so-called Safe program.
So far, tens of billions of dollars have been frozen
Due to violations of the rule of law, EU fundamental rights and standards in Hungary under the government of Magyar’s predecessor Viktor Orban, the EU Commission has currently set aside around 17 billion euros in EU funds for Hungary. In addition, more than two billion euros have already expired: in order to be released, the country would have had to implement reform requirements by a certain deadline. Because this did not happen under former Prime Minister Orban, Budapest lost its claim.
Around one billion euros each expired at the end of 2024 and 2025. The funds, which were no longer available, were intended to be used to promote structurally weak areas. The funds were frozen because the Commission had come to the conclusion after analyzes that Hungary was disregarding various EU standards and fundamental values. The violations identified related to deficiencies in the awarding of public contracts and the fight against corruption, conflicts of interest and the actions of the public prosecutor’s office, it was recently said. (sda/dpa)