Hungarian government submits first anti-corruption bill to avoid losing EU funds

Since taking office , has repeatedly spoken to Brussels over what it sees as an erosion of Hungarian democracy. Policies conflict. However, in the face of the enormous challenge of rising energy costs and double-digit inflation, a weak forint and a slowing economy, the veteran prime minister seems willing to meet EU requirements to eventually establish institutions capable of reducing corruption risks in EU-funded projects. “The latest developments in Brussels are undoubtedly a bad time for Orban, who is grappling with A series of political and economic problems arising from two global issues, most notably rising energy prices, so he may further meet the needs of Brussels,” Mujtaba Rahman, Managing Director, Europe, Eurasia Group. He said that Budapest may secure a pending deal, but that would not resolve all the pending deals on the rest of the EU divergent funding. “The bigger issue for Orban is the money tied up in the recovery fund because the committee There is more discretion to decide whether to give it the green light,” Rahman said. Like most EU countries, Hungary submitted a blueprint last year on how to use EU grants to make its economy greener and more high-tech post-pandemic- Pandemic. It also has not yet been approved. If Budapest doesn’t get EU funding, the forint, which has fallen by 8% this year, will almost certainly fall further, leaving the Efforts to curb inflation have complicated and exposed any negative shift in global sentiment for Hungarian assets. Minister of Development Tibor Navracsics, head of negotiations with the European Union, said on Sunday that Hungary will work with all countries undertaking to the Committee to avoid any loss of funds. ($1=1.00 EUR)