Hungary loses nearly €1 billion in EU funding

The European Union has officially decided to withhold €1.4 billion in funding from Hungary, Agence France-Presse (AFP) writes. This marks the first time the EU has taken such a measure.

In a report published months ago, the European Commission argued that Hungary fails to meet the EU’s democratic standards, particularly in areas such as political financing, conflict of interest, and media independence.

The European Commission clarified that Hungary was required to implement necessary legal reforms by the end of 2024 but has failed to fulfill its obligation.