Hungary officially loses EU funds at 1 billion euros value

Budapest has not commented on the decision.

This amount of money has been part of the 19.7 billion-euro funding package that has been frozen since 2022, when Brussels had launched <x0-cypherisation procedures against Hungary.

These procedures have blocked the funds due to suspicions that the Hungarian government has violated the rules for public procurement, as well as principles for control and transparency.

Budapest has made some reforms so the funds could be opened, but the deadline for issuing new funds expired on December 31st.

Hungary has also been officially denied European Union funds worth 1 billion euros due to corruption allegations.

This decision, which is confirmed through an EU statement issued on December 31st, marks the first time the European bloc has done so to a member state.

Budapest has not commented on the decision.

This amount of money has been part of the 19.7 billion-euro funding package that has been frozen since 2022, when Brussels had launched <x0-cypherisation procedures against Hungary.

These procedures have blocked the funds due to suspicions that the Hungarian government has violated the rules for public procurement, as well as principles for control and transparency.

Budapest has made some reforms so the funds could be opened, but the deadline for issuing new funds expired on December 31st. /euronews