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The EU Commission proposes the cut of cohesion funds in Budapest – Economy & More Latest News Here

 

The European Commission proposes a 65% cut in Hungary’s cohesion funds (equal to 7.5 billion euros) because the risk posed to the EU budget in the context of violations of the rule of law “remains” despite the measures promised by the government of Budapest to settle the problems indicated by the Commission.

The Hungarian government of Viktor Orban says it wants to close the political dispute with the EU by November, which risks costing it a cut in European funds. This was stated by Gergely Gulyas, minister of the Presidency of the Council of Ministers. Budapest intends to make some “concessions”, a package of laws “agreed with Brussels” which includes the establishment of an independent anti-corruption authority, a procurement reform and other measures to combat corruption.

Although the measures proposed today by the European Commission in the framework of the conditionality mechanism for violations of the rule of law against Hungary move in a “separate” context with respect to the ongoing dialogue with Budapest to arrive at the approval of its recovery plan (ie the Pnrr, ed.), the corrections proposed by the Hungarian authorities, and above all their possible “non-application”, could also have an effect on that dossier, therefore specified a senior Commission official. In practice, if Budapest does not implement the promised 17 corrective measures, even the recovery funds “may be suspended”.

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