EU unfreezes portions of frozen funds for Hungary
Date
12/14/2023 2:04:20 AM
(MENAFN) The European Commission has announced the partial release of billions of euros in cohesion funds for Hungary, citing the government's steps to address concerns over judicial independence. This move comes just a day before the European Union leaders' discussion on new aid for Kiev and the potential accession of Ukraine to the European Union – a matter Hungary has previously opposed.
In December of the previous year, the European Union froze EUR22 billion (USD23 billion) in funds allocated to Budapest, citing issues related to the independence of judges and Hungary's non-compliance with the European Union Charter of Fundamental Rights, particularly on LGBTQ rights, academic freedom, and asylum. In May, Hungary reached a preliminary deal with the European Union on judicial reforms, leading to the recent announcement by the European Union Commission.
According to the Commission's statement on Wednesday, it deems that Hungary has taken the necessary measures outlined in the agreement, enabling the nation to start claiming reimbursements of up to around EUR10.2 billion (USD11.09 billion). However, Brussels emphasized its commitment to closely monitoring Hungary's compliance with European Union rules and reserved the right to freeze funds again if any breaches of rule of law regulations are identified.
The European Union Commission highlighted that while Hungary has addressed concerns related to judicial independence, issues in areas such as public procurement, prosecutorial action, conflict of interest, the fight against corruption, and public interest trusts remain unaddressed. As a result, the remaining funds allocated for Budapest will continue to be frozen.
This decision takes place ahead of the European Council Summit scheduled for December 14-15, where discussions will encompass further aid to Ukraine and the contentious topic of opening accession talks for Kiev. The partial unfreezing of funds for Hungary raises questions about the broader implications for European Union-member relationships and ongoing negotiations within the bloc.
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