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On Sunday, Hungarian forint may plummet again – we’ll tell you why
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15.7 billion euros of EU funding are at stake, a sum that could restore Hungary’s unbalanced state budget. Furthermore, it could contribute a lot to dragging Hungary out of the energy and economic crisis caused by the end of the pandemic and the Russian invasion. However, the European Commission (EC) started an infringement procedure against Hungary earlier this year, and they might decide to withhold that money because of fears of corruption. Anyway, they will decide about “Hungary’s fate” on Sunday.
According to rtl.hu, the European Commission started the infringement procedure because they believe some of the EU money paid to Hungary disappears through corruption channels instead of helping the country’s development. Reuters reported on Wednesday that the EC would withhold HUF 6,400 billion (EUR 15.7 billion) until 2027, meaning that Hungary would lose a tremendous amount of money during the 2021-2027 funding period.
Tibor Navracsics, the minister of regional development, told ATV on Wednesday that they did not receive an official or unofficial reply from the European Commission about their future decision regarding the EU funds yet. He highlighted that they made several steps to meet the demands of the EC. For example, they revamped the public procurement system and strengthened the monitoring system and transparency.
Furthermore, the Orbán administration would like to create an anti-corruption agency. Navracsics promised that all the relevant bills will be submitted to the parliament until Monday.
If the Hungarian government were serious about tackling corruption, they would advocate joining the EPPO (European Public Prosecutor’s Office) and would publish the full report of the EU’s report on the Orban/Tiborcz embezzlement case which cost the Hungarian population at least Euro 80,000,000 as starters.
Needless to say neither will be done and hence IN NO WAY does this government intend to give up its built-in means of self-financing the whole corrupt Orban/Fidesz power structure. It is to be hoped that empty promises from this government will not again bring EU Euros raining down on the Castle District
Brussels! Hold the line against egregious corruption!