Huge success for PM Orbán? Tens of billions of euros may come to Hungary soon

Viktor Orbán European Commission ultimatum
Photo: FB/Viktor Orbán

Hungary cannot access billions of EU development and RRF funds because Brussels froze those monies due to rule of law concerns. But it seems PM Orbán may get at least EUR 10 billion from the frozen assets, and the European Commission may approve that in December. That would mean the Hungarian prime minister and his party get a boost before the 2024 municipal and European Parliament elections.

According to the information of Szabad Európa, EU officials believe Hungary will get EUR 10 billion in cohesion funding in December.

Hungary is entitled to EUR 21.7 billion from that bag in the 2021-2027 period. However, the European Commission refused to grant that money because they found the Hungarian judiciary system is not independent. Therefore, they demanded reforms and seem to accept at least part of them soon. The first euro millions may start to flow into Hungary from February.

The European Commission might approve that EUR 10 billion in their 13 December session. They are expected to state that Hungary meets the horizontal eligibility criteria for cohesion funding. Another scenario is that the EC gives that opinion in writing.

That comes after the Hungarian government informally presented their solutions to the two remaining EC concerns related to the independence of the Hungarian judiciary system. Though the EC is evaluating these currently, Szabad Európa wrote that only technicalities are left before the Commission lifts the ban on euro transfers.

Billions of euros remain in Brussels

Meanwhile, the Commission will present the annual report about the rule of law measure against Hungary initiated last December. They will probably say that no considerable change happened concerning the 21 key prerequisites or super milestones. We wrote about them in THIS article.

Szabad Európa wrote that Hungarian EU minister János Bóka and his EC counterpart, Didier Reynders, would meet today in Brussels. The meeting means negotiations reached their goal.

If the EC accepts the Hungarian reforms, Hungary can get EUR 10 billion. However, Brussels will withhold the remaining 11.7 billion because of the EC’s rule of law concerns and three horizontal eligibility criteria (LGBTQ rights, independence of scientific life and migrant rights).

The Hungarian government already submitted a claim for EUR 500 million. In the first place, that money will be transferred to Budapest in February. But it might happen that millions of euros will arrive before the end of this year. Anyway, that money and the agreement will boost Hungary’s economy and the election campaign of Orbán and his party before the 2024 municipal and European parliamentary elections.

Read also:

  • Will Hungary kick the new year off with a tremendous amount of EU funds? – Read more HERE
  • Unexpected turn of events: EC sends Hungary EUR 1 billion – Details in THIS article

Source:

Tags