The European Commission and Hungary have struck a deal that will release billions of euros in previously suspended EU funds, following Hungary’s pledge to enact a series of reforms. European Commission President Ursula von der Leyen acknowledged that Hungary has initiated actions to resolve issues surrounding transparency, governance, and the management of EU funds. The agreed-upon reforms include bolstering anti-corruption measures, improving oversight, and participating in the European Public Prosecutor’s Office.
As part of the agreement, Hungary is set to receive €16.2 billion in EU funding, which Hungarian Prime Minister Péter Magyar says will significantly contribute to the nation’s economic growth and investment strategies. These funds are earmarked for projects in infrastructure, energy security, housing, transportation, and business development. Additional funds could be unlocked with further reforms, including those targeting higher education and academic governance.
The deal also allows Hungarian students to fully participate in the Erasmus exchange program starting next academic year, marking a return to this international educational initiative. However, migration policy remains a contentious topic in Hungary’s discussions with the EU. Prime Minister Magyar affirmed Hungary’s commitment to border protection and strict control over illegal migration, while ensuring compliance with European obligations. He emphasized the importance of safeguarding the EU’s external borders and stated that Hungary has no plans to establish migrant camps on its territory.
This funding agreement signifies a crucial advancement in mending the relationship between Hungary and the European Commission, which has been strained over issues of governance, judicial reforms, and EU budget allocations. The agreement not only provides financial support but also sets a framework for ongoing cooperation and reform, potentially smoothing over years of discord.