BRUSSELS (AP) — Hungary’s newly elected Prime Minister Péter Magyar is scheduled to hold his inaugural meeting with European Commission President Ursula von der Leyen on Friday in Brussels, as he works to release billions of euros in EU funding that was suspended due to his predecessor’s undermining of democratic institutions.
Magyar’s stunning electoral victory in April brought an end to Viktor Orbán’s 16-year tenure, with Magyar campaigning partly on promises to rebuild relationships with the European Union. Orbán had previously attacked von der Leyen and other EU officials while systematically weakening Hungary’s democratic safeguards.
The EU suspended billions in financial assistance to Budapest in 2022 due to Orbán’s actions and worries about government corruption and attacks on judicial independence. The commission determined a year later that Hungary had implemented adequate reforms to justify releasing approximately 10.2 billion euros ($12.1 billion).
Following Magyar’s Tisza party securing a super-majority in parliament that will allow for rapid and comprehensive reforms, officials in both Brussels and Budapest have made releasing the funds a top priority to help revive Hungary’s struggling economy.
The frozen money consists of 10 billion euros in COVID recovery assistance and 6.3 billion euros in cohesion funding meant to support weaker EU economies. Officials are focusing first on releasing the COVID funds since they expire in August.
Magyar has stated his administration is implementing essential reforms including restoring judicial independence, protecting academic and media freedoms, and launching comprehensive anti-corruption initiatives to regain access to the funding.
The Hungarian leader has expressed confidence about reaching a deal in Brussels. In a Friday social media message, he announced his upcoming meeting with von der Leyen, writing that “we will reach a political agreement on the hundreds of billions of (Hungarian) forints in EU funding allocated to our country.”
