Payouts of Hungary’s funding from the European Union’s Recovery and Resilience Facility (RRF) could start in the fourth quarter of 2026, Finance Minister András Kármán said in a post on Facebook on Saturday.
Kármán said Hungary’s RRF programme could be cleared by the European Commission in June and approved by EU finance ministers in July.
Milestones in the programme must be achieved by the end of August, and as payment applications are sent in September, the first payouts could start in Q4 2026, he added.
Kármán hailed an agreement reached in Brussels on Friday to unlock EUR 16.4bn of Hungary’s EU funding as the “biggest financial deal of the decade”.
He noted that Hungary would get EUR 10bn from the RRF, including EUR 6.5bn in grant money and EUR 3.5bn in preferential credit. The country will get EUR 4.2bn in conditionality-related Cohesion funds and EUR 2.2bn in Cohesion funds linked to academic freedom, he added.
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“Will the struggling economy skyrocket?”
Such a question can only be asked by someone who doesn’t know the first thing about economics.
Simply injecting “free” money into the economy doesn’t make it skyrocket. It’s about how it’s used. Will it be utilized to create means of permanent income generation, which usually means empowering enterprises to create sustainable jobs?
Or will it be employed for cap.ex. projects that might create jobs only temporarily (e.g. during construction) but then wind them down?
Or, much worse, will it be used to create more bureaucratic mechanisms, staffed by useless sinecures, which will require permanent financing to keep alive while being totally unproductive?
Knowing the E.Useless, it’s going to be the third option.