Hungary Enacts Anti-Corruption Reforms to Unlock EU Funds

Hungary is poised to introduce anti-corruption legislation crucial for accessing suspended EU funds. This move follows a significant shift towards pro-EU policies by Prime Minister Peter Magyar, aiming to secure €16.4 billion. The reforms promise increased transparency and bolster Hungary's readiness for euro adoption by decade's end.

In a notable policy shift, Hungary's government is set to present anti-corruption measures to parliament, a prerequisite for unlocking billions in EU funding. Transport and Investment Minister David Vitezy confirmed the upcoming legislation, following Prime Minister Peter Magyar's decisive pivot away from the policies of his predecessor, Viktor Orban.

This legislative package, aimed at enhancing transparency in public life, is expected to revive Hungary's stalled EU funding, which totaled €16.4 billion. Minister Vitezy emphasized the bill's role in fulfilling EU rule-of-law criteria, essential for releasing these frozen funds.

The reforms, focusing on empowering Hungary's Integrity Authority and increasing official asset declaration scrutiny, also seek to draw €10 billion from the EU's pandemic recovery fund. These funds will support transport, renewable energy, small businesses, and rental housing investments, while a portion of EU cohesion funds will finance railway and transport infrastructure advancements.