Hungary has permanently lost 1 billion euros in European aid due to violations of the rule of law. A spokesperson for the European Commission told the German news agency DPA confirmed. Hungary could take measures to receive the aid amount until the end of 2024 at the latest, but has decided not to do so.
The money, which was intended to support economically weaker regions, had been frozen since 2022 because, according to the European Commission, Hungary does not meet certain EU standards and does not respect fundamental values. For example, Hungary is said to do too little against corruption and conflicts of interest and the judiciary is not independent enough.
The country is now looking to China for financial support. Chinese President Xi Jinping described the band in May as “as soft and rich as [de Hongaarse] Tokaj wine”. A month earlier, Hungary received a loan of 1 billion euros from Chinese state banks. Chinese companies are also active in the country.
Hungarian Prime Minister Viktor Orbán is still trying to get the frozen money released. In December 2022, Brussels blocked a total of around 22 billion euros in funds due to concerns about the rule of law. One year later, December 2023, gave the Commission will still give the country approximately 10 billion euros. In response, the European Parliament took the Commission to court.
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