Rift with Brussels has led to Budapest having €19bn worth of support frozen

Summary

Hungary will lose €1.04 billion in EU funds on January 1, 2025, as disputes with Brussels over corruption and rule of law persist, deepening its recession.

Hungary faces a deepening recession, with with €6.3 billion frozen over rule-of-law concerns, and €200 million lost annually due to daily fines for illegal asylum seeker treatment, alongside a 0.7% economic contraction and a 4.5% budget deficit.

Prime Minister Viktor Orbán is looking to Chinese investment to offset the €19 billion in blocked EU funds.

While Chinese projects, such as a battery plant, have increased, experts doubt they can replace the scale of EU funding.

  • wewbull@feddit.ukEnglish
    403·
    3 days ago

    Hungary has profited from being an EU member and I think any politician facing a fair election would do badly saying they should leave.

    What you’re saying characterizes Orban, but not the Hungarian people IMHO.

    • Buffalox@lemmy.worldEnglish
      332·
      3 days ago

      What you’re saying characterizes Orban, but not the Hungarian people IMHO.

      OK why didn’t they replace him in 2022 then? And get Hungary back on a road to progress and prosperity? Instead they doubled down after Orban had shown his true colors.

        • Buffalox@lemmy.worldEnglish
          51·
          3 days ago

          Then that needs to be changed, the country will be fucked up until it’s fixed.

          • atzanteol@sh.itjust.worksEnglish
            4·
            3 days ago

            For sure - it’s a bad situation all around. Hungary is not a democracy, it’s an oligarchy masquerading as a democracy.

      • theUwUhugger@lemmy.worldEnglish
        18·
        3 days ago

        We would kinda need to have a revolution to remove him, he gerrymandered the country so bad that he got 75% mandate from only 38% of the votes! Which we kinda fantasy about in our wet dreams, but there is just no one to lead it… Viktor pretty much bought everyone!

        • Buffalox@lemmy.worldEnglish
          32·
          3 days ago

          We would kinda need to have a revolution to remove him,

          So people know this, but don’t care enough to restore democracy? It sucks, but until something is done, it won’t get any better.
          People should not accept an anti democratic grab of power, if they do, things will only get worse.

            • Buffalox@lemmy.worldEnglish
              14·
              3 days ago

              Have you done ANYTHING? Like go to fora and try to ask if there are people trying to change things you can join?
              I’m not saying it’s easy or simple, it’s a pain in the ass, but I doubt it’s like Belarus and Russia where they use military and shoot demonstrators to keep the people in check.
              For every year you fail to restore democracy, you probably lose both freedom opportunities and get lower living standards compared to if democracy and relations to EU are restored.

              • theUwUhugger@lemmy.worldEnglish
                2·
                2 days ago

                I vote for the best chance in opposition (regardless of my commie opinions) and I illegally volunteer for them (I am a soldier)

      • FelixCress@lemmy.worldEnglish
        175·
        3 days ago

        OK why didn’t they replace him in 2022 then?

        This. People are responsible for the consequences of their actions.

      • wewbull@feddit.ukEnglish
        4·
        2 days ago

        Part of my point. You can’t characterise the Hungarian people by Orban’s actions because he’s not answerable to the people.

    • corsicanguppy@lemmy.caEnglish
      193·
      3 days ago

      any politician facing a fair election would do badly saying they should leave.

      We just had an American election where people voted for much worse. It’s hard to underestimate voters right now.