Today: Thursday, 6 October 2022 year

EC proposes to suspend the allocation of funds from the EU budget to Hungary

EC proposes to suspend the allocation of funds from the EU budget to Hungary

The European Commission (EC) proposes to freeze obligations to pay certain funds to Hungary from the general budget of the European Union, the decision will be made by the EU Council, European Commissioner Johannes Hahn said at a press conference.

 

As specified in the EC release, this measure, proposed for approval by the EU Council, should “ensure the protection of the EU budget and EU financial interests from violations of the rule of law in Hungary.”

“The Commission is proposing a suspension of 65% of obligations under the three operational programs as part of the cohesion policy,” Khan said.

This could correspond to about 7.5 billion euros of funding from the EU budget, he added.


The budget of the European Union for each year is drawn up taking into account the parameters of expenditures and the commitments made on expenditures.


The Council must decide within one month, by qualified majority, whether the EC proposal should be approved. This period may be extended by a maximum of two months in exceptional circumstances, the EC notes.