Hungary Claims Fulfillment of Conditions for 10 Billion Euro EU Recovery Fund

Transportation Minister David Vitezy announced on Monday that Hungary has met all legislative conditions and milestones required to access 10 billion euros in European Union recovery funds. The announcement came on the August 31 deadline for the government to fulfill 27 rule of law and anti corruption super milestones along with over 100 other reforms and developments. The funds were previously suspended due to concerns over corruption and the erosion of democratic norms under the previous administration of Viktor Orban. Prime Minister Peter Magyar reached a political agreement with European Commission President Ursula von der Leyen several months ago to resolve these issues. If the request is submitted by the end of September, the funds are expected to be transferred by the end of December. The final evaluation of the fulfillment of these conditions rests with the EU Council of Ministers based on a proposal from the European Commission. As part of the funding utilization, the government inaugurated a trolleybus development project in Budapest and acquired new CAF trams valued at approximately 43 billion forints. A portion of these projects was financed by reallocating funds from the regular EU budget to the recovery fund.