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Hungary Set to Unlock EU Funds Following Budget Reassessment

Hungary's Prime Minister Peter Magyar is scheduled to finalize a political agreement on May 28 aimed at releasing previously frozen European Union funds. This marks a significant shift in the nation's fiscal trajectory. Magyar's administration has identified substantial budgetary irregularities from the prior government, revealing a considerably larger deficit than previously disclosed. The premier indicated Hungary faces an elevated budget shortfall this year while maintaining expectations for roughly 2% economic growth. Hungary's new finance minister has committed to obtaining the thawed EU funding within months and meeting all requirements for euro adoption within four years, signaling a comprehensive policy reorientation. The anticipated accord represents a critical juncture for Hungary's economic recovery and European integration efforts.