Final decision: the EU unlocks billions of euros for Hungary! – UPDATED

The European Commission on Wednesday said it has decided to give its support for the adoption of Hungary’s plan for accessing EU recovery funding worth 5.8 billion euros, though the EC will continue to freeze 7.5 billion euros in cohesion funding.

Didier Reynders, the European Commissioner for Justice, told a press conference that the EC would support the adoption of Hungary’s plan if the country fulfills a set of conditions connected with the rule of law. At the same time, the EC will continue to freeze 7.5 billion euros in cohesion funding, as Hungary has not made enough progress in ensuring transparency in the use of EU funding, he said.

Suspending Hungary’s access to cohesion funding has been proposed as part of EC legislative framework designed to protect the EU budget, he added.

Read alsoFinal decision: the EU unlocks billions of euros for Hungary! – UPDATED

UPDATE (16.24)

He said Hungary’s plan contained a broad range of reforms and investments which could help to address many economic and social challenges outlined in the EU’s country recommendations. Planned measures include supporting sustainable growth and social and regional cohesion, he said, adding that the green and digital transitions, education, social policy, the labour market, health care, the fight against corruption, the independence of the judiciary, public procurement, taxation and the pension system were the areas especially affected, and addressing them would contribute to meeting the 27 “milestones” stipulated in the EU’s recovery and resilience conditions.

Reynders added that these requirements for the protection of EU financial interests must be fulfilled before any recovery payments can be made. The commission’s evaluation of Hungary’s recovery plan is being forwarded to the European Council, which has four weeks to consider the matter, he added. Fully 70 percent of recovery subsidies granted to EU member states must be committed before Dec. 31, he noted.

Meanwhile, the commissioner said Hungary was not making adequate progress to address the EC concerns regarding the use of EU funds, and “further fundamental steps” would have to be taken to allay those concerns about corruption and public procurement arrangements. Hungary has committed to implementing 17 measures aimed at allaying these concerns. The EC is forwarding its position regarding the implementation of these measures to the Council, and a final decision will be made by 19 December, he added.

Read alsoFinal decision: the EU unlocks billions of euros for Hungary! – UPDATED

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