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.

  • corsicanguppy@lemmy.caEnglish
    193·
    5 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.