EU Commission Proposes Unlocking $4.7 Billion in Frozen Funds for Hungary
The move would release funds withheld since 2022 over concerns about rule-of-law breaches in Hungary's EU budget spending.
The European Commission has proposed releasing $4.7 billion in funds frozen for Hungary, according to a report by Anadolu Agency.
The bloc adopted measures against Hungary in 2022 to protect the EU budget from what it described as rule-of-law breaches, resulting in the funds being withheld from Budapest.
The proposal to unlock the funds would mark a shift in the Commission's stance toward Hungary, though the report did not specify what conditions, if any, Hungary would need to meet for the release to proceed, or the exact programs the funds are earmarked for.
Tensions between Brussels and Budapest over rule-of-law issues have been a recurring feature of Hungary's relationship with the European Union in recent years, with the bloc using budget conditionality mechanisms to press for changes in areas such as judicial independence and anti-corruption safeguards.
The proposal will need to move through the EU's institutional process before any funds are actually released, and further details on the timeline were not immediately available.
Sources
- EU Commission proposes releasing to Hungary $4.7B in frozen funds — Anadolu Agency (Turkey)
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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