EU Offers Hungary Over 16 Billion Euros, Conditional on Swift Reforms

Hungary's new Prime Minister Peter Magyar expressed optimism after a meeting in Brussels, stating, "If I go home with this much money every time I come here, I will come here more often." He was referring to the more than 16.4 billion euros the EU has indicated it could release to Budapest, a significant sum representing about 13 percent of Hungary's state budget.

“

If I go home with this much money every time I come here, I will come here more often.

Magyar, who took office less than three weeks ago, contrasted his government's rapid progress with the previous 16-year tenure of Viktor Orban. "His government has achieved in three weeks what Orban could not in several years," the 45-year-old stated. EU Commission President Ursula von der Leyen acknowledged the substantial amount, adding, "The Hungarian people deserve it." She also confirmed that Hungarian students would regain access to the Erasmus exchange program next year.

“

His government has achieved in three weeks what Orban could not in several years.

The release of these funds, which were withheld by the EU due to rule-of-law violations under Orban's government, is not unconditional. Hungary has until the end of August to implement legislative reforms aimed at curbing corruption and restoring the rule of law. Key requirements include joining the European Public Prosecutor's Office and revising public procurement regulations. Failure to meet these deadlines could jeopardize the disbursement of the funds.

“

The Hungarian people deserve it.