BRUSSELS, BELGIUM - MAY 29: Hungarian Prime Minister Peter Magyar and European Commission President Ursula von der Leyen hold a joint press conference in Brussels, Belgium, on May 29, 2026. (Photo by Dursun Aydemir/Anadolu via Getty Images)
BRUSSELS (AP) — Officials say the European Union will unlock 16.4 billion euros or around $19 billion in funds for Hungary after recently elected Prime Minister Péter Magyar enacted rapid reforms. Those changes were meant to regain access to the funds frozen over the democratic backsliding of his predecessor. Friday’s move was a signal of Brussels’ embrace of the new government in Budapest after Viktor Orbán’s 16-year tenure. Orbán was allied with Russia and antagonized the EU.
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