The European Commission proposed on Wednesday the release of €4.2 billion in solidarity financial aid for Hungary. This amount had been blocked since 2022 due to violations of the rule of law under the previous government of Viktor Orbán.
Details of Solidarity Financial Aid
Solidarity financial aid is part of a program that the European Union offers to support economic, social, and regional reforms in lower-income countries. Hungary, along with Poland, Italy, and Romania, has been one of the main recipients of this aid. However, in 2022, 55% of this aid was blocked due to concerns about corruption and public procurement in Orbán's government. These concerns pointed to risks for the "financial interests" of the European Union.
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New Developments and Implications
The European Commission announced on Wednesday that Hungary appears to have addressed the rule of law violations affecting the EU budget, and for this reason, it is proposing to lift the restrictions. Ursula von der Leyen, the President of the Commission, stated: "Hungary has taken important steps to strengthen the rule of law and protect the financial interests of the Union."
The release of this budget is one of the key priorities of the new Prime Minister of Hungary, Péter Márki-Zay, who took office in May after winning the elections. He stated in Brussels after his election: "One of our important commitments during the election campaign was to release the billions of euros that Hungarians deserve."
The Commission's proposal is expected to be approved by the Council of the European Union, and Michael McGrath, the Commissioner for Justice, said that this would be "an important and positive step for Hungary and the European Union."
McGrath also added: "The Commission will continue to engage constructively with Hungarian authorities and will closely monitor developments. Maintaining the progress made during this upcoming period is of utmost importance."
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