The move would unlock access to the post-pandemic funds that had been withheld for a long time due to corruption concerns.

EU finance ministers are anticipated to approve Hungary’s amended National Recovery Plan this Friday during the ECOFIN gathering, enabling Budapest to access €10 billion in post-pandemic recovery financing once all outstanding conditions are met.

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For several years, Brussels has withheld a significant portion of the recovery and cohesion funds designated for Hungary amid worries about systemic corruption risks.

Hungarian Prime Minister Péter Magyar, who secured a decisive victory in the April elections, campaigned on a promise to unlock these frozen EU funds, and has reached a political agreement with European Commission President Ursula von der Leyen to advance the process.

An EU diplomat, speaking anonymously, expressed optimism regarding the Council’s endorsement, highlighting that the procedure has proceeded smoothly so far.

Its approval necessitates unanimous support from all 27 EU member states. Hungary is also required to fulfill all linked «super milestones» by the end of August in order to obtain the funds.

«This meeting holds great significance as it represents the final legal step before our nation can access several thousand billion forints of EU funds,» stated Hungarian Finance Minister András Kármán in a social media message before his trip to Brussels.

Following the parliamentary elections in April, Hungary’s new administration reassessed the recovery plan originally submitted by the Orbán government.

The revised document incorporates projects tied to suburban railway systems, energy infrastructure enhancement, and housing initiatives. The European Commission has issued a positive recommendation for the plan ahead of the Council vote.