Hungarian Prime Minister Péter Magyar is meeting with European Commission President Ursula von der Leyen in Brussels on Friday for the first time since taking office, in a bid to unlock billions of euros in frozen EU funds. The funds were withheld due to democratic backsliding under his predecessor, Viktor Orbán.
Background of the Frozen Funds
Magyar’s landslide victory in the April election ended Orbán’s 16-year rule, during which Hungary’s relationship with the EU deteriorated. Orbán had vilified von der Leyen and other EU leaders while eroding institutional checks and balances. These actions, along with concerns over corruption and judicial independence, led the EU to freeze billions in funding to Budapest in 2022. A year later, the European Commission found that sufficient reforms had been carried out to release around €10.2 billion ($12.1 billion).
Magyar’s Pro-EU Stance
Magyar campaigned on forging stronger ties with the EU, and his party, Tisza, won a super-majority in parliament, enabling deep and quick reforms. Both Brussels and Budapest now prioritize releasing the funds to help Hungary’s struggling economy. The funds are split into €10 billion in COVID recovery funds and €6.3 billion in cohesion funds aimed at supporting weaker EU economies. The COVID funds are set to expire in August, so teams are working to unlock them first.
Magyar has said his government is implementing crucial changes, including restoring judicial independence, academic and media freedom, and launching broad anti-corruption efforts. He struck an optimistic tone on social media, stating that a political agreement on the hundreds of billions of Hungarian forints in EU funding would be reached with von der Leyen.
