EU to unlock 16 billion euros for Hungary as Magyar pushes ahead with post-Orban reforms

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The European Union announced it will unlock over €16 billion in previously frozen funds for Hungary, praising post-Orban reforms under new Prime Minister Peter Magyar as long overdue. The funds had been withheld amid concerns over corruption and democratic backsliding during Viktor Orban's tenure.

The European Union will unlock more than €16 billion in frozen funds for Hungary, EU chief Ursula von der Leyen said Friday, praising what she described as "long overdue reforms" by newly elected Prime Minister Peter Magyar. The EU had frozen the funds while the country was under the leadership of nationalist premier Viktor Orban, accusing Budapest of corruption and democratic backsliding.