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Magyar targets May deal to unlock €10B of EU funds for Hungary

“Negotiations are progressing very well,” Magyar says after meeting Commission President Ursula von der Leyen, with a follow-up meeting penciled in for late May.

Incoming Hungarian Prime Minister Péter Magyar met European Commission President Ursula von der Leyen in Brussels on Wednesday in an effort to unlock frozen EU cash — with a political deal now targeted for late May.

Billions of euros in EU funding that could have gone to Hungary have spent years in limbo because of disagreements between Brussels and the policies of outgoing Hungarian Prime Minister, Viktor Orbán.

“I can say that the negotiations are progressing very well so far,” Magyar said in a Facebook reel ahead of the talks, citing “constructiveness” from EU institutions and member states. He confirmed he will return to Brussels on May 24–25 to conclude a “public political agreement.”

After the meeting, which he called “highly constructive” in a post on X, Magyar struck a confident tone. “EU funds will soon start arriving in Hungary,” he said, while stressing the bloc was not imposing conditions “contrary to Hungary’s national interests.”

Von der Leyen echoed the message in an X post of her own: “A very good exchange with Péter Magyar in Brussels today. We discussed the steps necessary to unlock EU funds earmarked for Hungary that are frozen due to corruption and rule-of-law concerns. The European Commission will support your work to address these issues and realign with shared European values. Our teams will continue to work closely together.”

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European Council President António Costa struck a similarly welcoming tone after the meeting, taking to social media to call it “a pleasure” to receive Magyar in Brussels and saying he looked forward to “close cooperation.”

At stake is a large slice of Hungary’s recovery fund — including roughly €10 billion that will expire if Budapest fails to meet EU conditions by the end of August. To access the money, Hungary must deliver on 27 so-called “super milestones” covering public procurement, judicial independence, academic freedom and anti-corruption safeguards.

Magyar has made clear where he sees the problem. The funds were blocked, he said, because of “corruption on an industrial scale” under Orbán.

Magyar is due to be sworn in on May 9, marking the formal start of his premiership.

This article has been updated. Júlia Vadler contributed to this report.

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