Politics 2024-05-15T05:24:58+03:00
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European Commission Recommends Not To Finance Hungary. Budapest May Lose EUR 13 Billion

European Commission Recommends Not To Finance Hungary. Budapest May Lose EUR 13 Billion

EU, European Commission, Hungary, funding of hungary

The European Commission (EC) recommended that EU member states freeze two payments to Hungary for a total of EUR 13 billion. Budapest risks losing European funding due to rule of law violations.

The German publication Deutsche Welle writes about it.

Today, November 30, the EC approved the Hungarian government's plans to use European aid to overcome the consequences of the coronavirus pandemic. At the same time, the European Commission recommended not to pay Hungary the EUR 5.8 billion provided for this purpose.

The European regulator also appealed to EU member states to freeze EUR 7.5 billion allocated to Hungary as part of the EU's program to equalize living standards.

Such decisions of the European Commission can be a very heavy blow for the Hungarian economy. The EUR 13 billion promised to Budapest represent almost 5% of the country's GDP in 2023.

The EC's behavior may also have a negative impact on the affairs of the European Union itself, as it increases the risk that Hungary will block decisions that require the unanimity of all members of the bloc.

As Ukrainian News Agency earlier reported, on November 24, the European Parliament supported a resolution calling for the suspension of funding for Hungary as an EU member due to problems with compliance with the rule of law.

We will remind that back in September, the Western media wrote that the European Union is considering the possibility of freezing Hungary's funding due to its pro-Russian views.

We also reported that a member of the European Parliament called the deprivation of Hungary's right to vote in the EU a reality.

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