EU agrees on Hungary's post-epidemic regain program| MENAFN.COM

Sunday, 05 February 2023 08:07 GMT

EU agrees on Hungary's post-epidemic regain program


(MENAFN) The European Commission agreed on Hungary's post-epidemic regain program on Wednesday but is going to restrain investments until Budapest achieves all accepted terms.

"The Commission will authorise disbursements of €5.8 billion (USD6 billion) in grants based on the satisfactory fulfilment of all the milestones and targets outlined in the recovery and resilience plan, reflecting progress on the implementation of the investments and reforms," the commission stated in a press meeting.

It also enquired the EU administrations to freeze €7.5 billion (nearly USD7.8 billion) that Hungary would usually be receiving from the EU financial plan as share of the bloc's cohesion program.

"... no payment under the RRF (Recovery and Resilience Facility) is possible until Hungary has fully and correctly implemented these 27 'super milestones'," the Commission asserted.

"The rule of law, including independent justice and effective anti-corruption systems, are key elements of a democratic EU," according to Vera Jourova, the European commissioner for standards as well as European transparency.

"We recommend to the Council to continue the budget conditionality mechanism as the commitments, which the Hungarian government proposed and agreed to, have not been met. At the same time we are proposing to the Council to endorse the Hungarian Recovery Plan because it includes strong judicial milestones," Jourova also mentioned.

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