P Péter Magyar Meets EU Leaders: Billions in Hungarian Funds Forthcoming, Brussels Confirms
Péter Magyar, Hungary's Prime Minister-elect, held his first discussions with EU leaders in Brussels since his Tisza party's decisive victory on 12 April, which concluded Viktor Orbán's 16-year tenure. Following a meeting with European Commission President Ursula von der Leyen, described by Magyar as "extremely constructive and successful", he stated unequivocally that "EU resources will soon arrive in Hungary."
Magyar has pledged to unfreeze billions of euros in EU funds, which were withheld due to allegations of democratic backsliding and corruption under Orbán's Fidesz-led government. Orbán, whose election campaign often adopted an anti-EU stance, had previously characterised Magyar as subservient to Brussels. Magyar, however, reassured Hungarians that EU conditions would not contradict the nation's interests, suggesting the released funds would revitalise Hungary's economy, which has seen negligible growth over the past three years.
Márton Hajdu, a party colleague, indicated the conditions for fund release were straightforward: an end to corruption and non-interference in judicial functions. Magyar faces a considerable task in meeting these conditions swiftly before his swearing-in on 9 May. Von der Leyen acknowledged a "very good exchange" and affirmed the Commission's support for Hungary's efforts to "realign with shared European values."
Magyar is prioritising the release of EUR#10.4bn (GBP#9bn) from the EU's Covid-19 recovery fund before its August deadline, contingent on Budapest meeting a series of "super-milestones" related to anti-corruption and rule-of-law reforms established in 2022. Additionally, EUR#6.3bn in cohesion funds, blocked due to Orbán-era rule-of-law issues, are also targeted for release. The new government also seeks access to EUR#16.1bn in EU defence loans and aims to terminate a EUR#1m daily fine levied against Budapest for breaching EU migration regulations.
With Tisza securing a two-thirds super-majority of 141 seats in the 199-seat National Assembly, Magyar is well-positioned to enact reforms. The incoming government also appears to enjoy significant goodwill from other EU leaders, as evidenced by the recent lifting of Orbán's veto on a EUR#90bn loan to Ukraine. Magyar has also initiated efforts to mend relations with Kyiv, proposing a meeting with President Volodymyr Zelensky in Berehove, Ukraine, in early June.
