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Hungary awaits signing of recovery plan

The Hungarian government expects the signing of the recovery plan within a few days, which will enable it to receive a grant of 5.8 billion euros from the European Union (EU) recovery funds, which were established to combat the economic consequences of the Kovid-19 epidemic.

Hungarian Regional Development Minister Tibor Navracsics said at the press conference that the representatives of the member states approved the plan prepared by their country and submitted it to the European Council for adoption.

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Noting that with the decision taken, the Hungarian government will benefit from EU funds by reaching the target it had previously set, Navracsics stated that signatures are expected within a few days.

Stating that the Hungarian government has made the necessary reforms for the EU funds to come to the country and continues to work in this context, Navracsics stated that the government continues to hold talks with the EU Commission.

Navracsics also stated that 48 percent of EU funds will be used to finance programs that help climate and energy policy targets, and 30 percent will be used to strengthen digital infrastructure.

 

EU-Hungary agreement

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The EU has long criticized Hungary for its regression in key areas such as democracy and the rule of law.

In addition, the EU did not approve of Hungary’s rescue program and did not transfer EU funds to the country under the rule of law mechanism.

Hungary, on the other hand, did not approve of issues such as providing 18 billion euros in financial aid to Ukraine for next year and the global tax treaty, which required unanimous consent.

In the final stage, Hungary approved the financial support and tax treaty to Ukraine in return for the freezing of some of the Union funds until the necessary steps are taken and the recovery program funds are not cut.

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