Hungary Close to Unlocking Frozen EU Recovery Funds

"I do not want to jinx it, but we are now very close to an agreement", Hungarian Prime Minister Peter Magyar said regarding the release of billions of euros in frozen European Union funds.

Speaking in Brussels, Magyar said Hungary had already reached agreement with the European Commission on several key issues, although disputes over anti-corruption measures and oversight of EU spending remain unresolved.

The talks concern funds that were blocked during Viktor Orban’s government due to EU concerns about rule-of-law violations in Hungary. Magyar said he would meet European Commission President Ursula von der Leyen on Friday to resolve the remaining sticking points.

Securing the agreement is seen as vital for Hungary’s economy, which has faced years of stagnation and pressure on public finances. Budapest is particularly seeking access to money from the EU recovery fund, worth around €10 billion ($11.3 billion) in grants and loans.

Magyar also announced that Hungary plans to formally apply to join the European Public Prosecutor’s Office, a move Brussels has long demanded as part of broader anti-corruption reforms.

On Ukraine, the Hungarian prime minister reiterated that Budapest would support opening EU accession talks with Kyiv only if an agreement was reached on the rights of the Hungarian minority living in Ukraine.

(reuters, max)