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.
I mean, leopards eating faces. He gets what he wants which is friction with the EU. I’m tired of him. Hungarians need to step it up. They’re amazing people (history and food too) who have a horrible mini-tyrant and seem to be budding up to Russia (cheap gas? Or why?).