In a strategic move to secure Hungary's support for increased financial assistance to Ukraine and the initiation of membership talks for Kyiv, the European Union is contemplating the release of frozen funds worth billions of euros, sources within the EU have revealed. The European Commission is currently preparing to unfreeze substantial EU funds allocated to […]
Hungarian lawmakers adopted changes to the country’s judiciary in the hope of gaining access to billions of euros in EU funds. While Brussels welcomed the reform steps, it indicated Hungary needed further reforms to unlock EU cash. Hungarian lawmakers passed measured related to the reform of the judiciary this week in the hopes of unlocking […]
The Hungarian government initially pledged to complete the most important tasks needed to release the funds withheld by the European Union by March 31, this ultimately failed. Brussels is seeking clarification on several issues related to the judicial reform and Hungary has yet to tackle the conflict of interest rules in the Erasmus case. If […]
Hungary struck a mega deal with the European Union this week to reduce the amount of funds the bloc proposed to freeze. In return, the Hungarian government lifted its veto on the financial aid package for Ukraine. Monday night brought a temporary resolution to Hungary’s biggest standoff with the European Union. Member states approved Hungary’s […]
The European Commission, the quasi-government of the European Union, calls for an estimated EUR 7.5 billion in EU funding to be withheld from Hungary over corruption concerns that the Hungarian government failed to dispel. Referring to EC President Ursula von der Leyen's State of the Union address earlier this week, EC Commissioner Johannes Hahn, in […]
The European Commission has approved the modification of six Operational Programmes (OP) for the European Regional Development Fund (ERDF) and the European Social Fund (ESF) in Spain, Bulgaria, Italy, Hungary and Germany under REACT-EU for a total of EUR 2.4 billion. As for Hungary, the statement says the Economic Development and Innovation Operational Programme (EDIOP) […]
Hungary’s government submitted plans to Brussels on how the country would utilize more than 2,500 billion forints (EUR 7bn) distributed from the bloc’s recovery and resilience fund (RRF). The money can be spent on strategic development projects over the next six years. Earlier, the Cabinet indicated it would not make use of the EU’s credit […]
The European Commission has suspended the payment of funding in three priorities of Hungarian development programmes totalling about EUR 2.3 billion. Hungarian officials say a correction of up to 10% can be expected, adding that this amount will not necessarily be lost.
Hungarian government ministers have ordered an immediate halt to construction of the section of the M4 motorway between Abony and Fegyvernek in Eastern Hungary as they claim the European Commission had raised concerns over suspected cartel activity.
The European Commission announced the first results of its new EUR 3 billion SME Instrument program, launched under Horizon 2020 to help innovative small firms get ideas from the lab to the market. The first winners include three Hungarian firms.
The European Commission is not suspending the payment of development funds for Hungary, but for now, Brussels will only pay the bills submitted by 15 April until every question about the country’s new tendering system is clarified.
European Union finance ministers adopted a Commission proposal to suspend Cohesion Fund commitments for Hungary from 2013, Margrethe Vestager, Danish Minister for Finance, told a press conference on Tuesday.
The European Council will be recommended within days to have some of the cohesion fund commitments for Hungary suspended as of 1 January 2013, bruxinfo reported, citing well-informed sources in Brussels.
Hungary's New Széchenyi Plan, an economic development plan, will invest HUF 7,000 billion (EUR 25.5bn) between 2011 and 2014 in various business projects and infrastructure, boosting the investment rate by an annual 5 percentage points.
