Europe Desk, Delhi Magazine: The European Commission has approved the National Recovery Plan of Hungary. However, the money will not be paid out until Budapest meets all agreed conditions.
The European Commission approved the Hungarian KPO on Wednesday after the coronavirus pandemic . At the same time, it has suspended all payments of the €5.8 billion until Budapest meets all agreed conditions. Hungary has not implemented adequate rule of law reforms in its country. According to the European Commission, there is still a threat to the European Union’s budget, despite the fact that Budapest has undertaken a number of reforms, some of which are in progress.
However, by 19 November Hungary had not implemented the 17 corrective measures it had committed to. It’s about, among others for the judicial review of prosecutors’ decisions. The European Commission indicated that the general conditions remain met, but steps will be needed to eliminate risks to the EU budget in Hungary.
EC on the KPO of Hungary
Therefore, the EC also asked the governments of the Member States to freeze 65% of funds for three operational programs in the amount of EUR 7.5 billion, which Hungary would receive from the European Union budget as part of the funds transferred to poorer EU Member States in order to equalize the standard of living in the EU alliance.
Earlier in this year, European Commission approved Hungarian scheme to support small and medium-sized enterprises with a budget of €226 million.
The Council of the European Union will now have until December 19 to vote on the matter. A qualified majority is required to implement the suspension of funds. Hungary has a total of 27 milestones to achieve. If they are not fulfilled, then no funds will be transferred.
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