Council of European Union approves recovery plan for Hungary
The European Union has approved Hungary's national recovery plan, unlocking around €10 billion in EU funds that were previously withheld due to corruption concerns.
- Country:
- European Union
The Council of the European Union approved on Friday Hungary's national recovery plan, marking another step in the process to give Budapest access to around €10 billion ($11.4 billion) of EU funds that had been withheld on concerns over corruption. The move comes after European Commission president Ursula von der Leyen had said in May that the money would become available, after she met Hungarian Prime Minister Peter Magyar who has vowed to fight corruption.
The EU money is crucial in order to kick-start the Hungarian economy that has practically stagnated for three years. ($1 = 0.8742 euros)
Also Read: Diplomatic Dialogues: Hungary and Ukraine Agree on Bilateral Meeting
Google News