Budapest permanently loses European funds 1 billion euros

The official loss today (1,12025) of EUR 1 billion in European funds, which were ‘frozen’ due to violations in the State of Law that Budapest is accused of, according to the European Commission (p. Brussels had activated in Spring 2022 the mechanism of compliance against the central European country, a process that led to the suspension of certain payments. The Commission had then referred to ‘serious concerns’ about Hungary’s use of the European budget, which was linked to public procurement conditions and a lack of control and transparency. CORVERSE Since then, Budapest has moved on to reforms that have allowed the release of part of the money, but 19 billion have been committed under different procedures. ‘Under the compliance regulation, (…) the first instalment’ of the money committed, amounting to EUR 1.04 billion, ended ‘at the end of 2024’, the Commission explained to the AFP. After returning to the country’s leadership in 2010, nationalist Prime Minister Victor Orban strengthened his authority and his narrow environment became rich in a spectacular way. CORVERSE In July, the Commission appreciated in a report that Hungary did not respect the EU’s democratic rules, particularly on matters of corruption, financing policy, conflict of interest and media independence. Victor Orban promised to “fight” to protect the money “which is ours”. “They attempt to get Hungarian money in various ways and for various reasons,” he said in December, threatening to block the EU budget to achieve his purpose. In this difficult context for the Hungarian leader with background and economic recession, his new rival Peter Mayar today called for early parliamentary elections, while polls give his party a lead. The elections are currently scheduled for the Spring of 2026. “Time is pressing. Let us speed up the election date so that the country does not miss another year without reason,” he said in his wishes for 2025. “We will bring back the billions that the European Union owes us”.