EU unlocks $19 billion in frozen funds for Hungary after reforms deal

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The European Union agreed to release €16.4 billion in frozen funds to Hungary contingent upon reforms. The package includes €10 billion from a post-pandemic aid program and funds from cohesion budgets, providing significant budget relief.

The European Union reached an agreement with Hungary on Friday to release €16.4 billion ($19.1 billion) in frozen funding, contingent on reforms, providing relief to the country’s budget. European Commission President Ursula von der Leyen announced the package will comprise approximately €10 billion from a post-pandemic aid program, €4.2 billion from cohesion funds, and €2.2 ...

World Politics Markets Deals European Union Hungary frozen funds reforms post-pandemic aid budget relief economic policy

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