Hungary is finally seeing the end of its financial standoff with Brussels. Prime Minister Péter Magyar's government presented a sweeping anti-corruption bill on Tuesday, paving the way for the release of over €16 billion in EU funds frozen since the Orbán era. This initiative directly addresses the demands of the European Commission, which had made the release of these funds conditional on structural reforms in transparency and the fight against corruption.
A turning point after the Orbán era
The legislation marks a major turning point in relations between Budapest and the European Union. Funding had been suspended under the previous government of Viktor Orbán, who was accused of authoritarian tendencies and alleged misappropriation of European subsidies. The arrival of Péter Magyar to power changed the situation, with the new head of government demonstrating from his first weeks a desire to break with the practices of his predecessor.
The European Commission has confirmed its decision to release all frozen funds, while maintaining a disbursement schedule contingent on the effective implementation of promised reforms. Brussels will notably monitor the practical application of the anti-corruption measures and transparency in the awarding of public contracts. This release represents a vital boost for the Hungarian economy, which will now be able to benefit from these billions of euros earmarked for infrastructure and development projects.
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