The European Union announced it will unlock 16.4 billion euros for Hungary after funds were frozen during Viktor Orban’s time in power. The European Commission President said the bloc is ready to release money that was withheld due to democratic backsliding, corruption, and treatment of LGBTQ issues. The release includes 10 billion euros from the Next Generation EU recovery fund, 4.2 billion euros in cohesion funds, and 2.2 billion euros as reforms are completed. Prime Minister Peter Magyar called the decision a historic breakthrough and said Hungary fought for each cent. He linked the funds to rebuilding the economy, restoring public services, and strengthening competitiveness for Hungarian companies and small and medium-sized enterprises. Recent steps include dropping plans to withdraw from the International Criminal Court and allowing a Pride parade.
"Magyar described the release of the funds as a historic day, saying that they fought for each cent. We will bring this money home, as we promised, to rebuild Hungary, to jump-start the economy, to restore and develop public services, and to strengthen the competitiveness of Hungarian companies and small and medium-sized enterprises, Magyar told reporters."
Read at www.aljazeera.com
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