Hungary loses over €1 billion in EU funds amid tensions

Hungary has lost access to over €1 billion in EU funds due to ongoing political tensions with Brussels regarding rule-of-law violations, with around 19 billion euros remaining frozen. The European Commission’s 5th Rule of Law Report in July 2024 highlighted concerns about corruption, political financing, conflicts of interest, and media independence in Hungary. Prime Minister Viktor Orban has vowed to fight the EU ruling, describing it as politically motivated, and threatening to reject the EU’s budget to pressure for a concession, potentially risking another €1.1 billion in funds by the end of 2025.

Full Article