Hungary is striving to meet the August 31 deadline in order to gain access to 10,4 billion euros from the European Union's post-pandemic recovery fund, a goal deemed ambitious but still achievable by several European officials.
These funds, consisting of 6,5 billion euros in grants and 3,9 billion euros in preferential loans, had been frozen by Brussels due to concerns about the rule of law under the previous government of Viktor Orban.
The new government led by Peter Magyar must present a revised version of the national recovery plan by May 27 in order to meet European requirements.
According to EU officials, Brussels is recommending that Budapest redirect some of the funds towards projects deemed faster and safer to implement, in order to maximize disbursements before the deadline.
Hungary is also considering placing part of the funds in a national development bank, on a model already used by Poland.
This attempt comes after the political change in Budapest, where Peter Magyar's government is seeking to restore relations with European institutions after years of tension under Viktor Orban.
Community
Comments
Comments are open, but protected against spam. Initial posts and comments containing links undergo manual review.
Be the first to comment on this article.