EU Council Formally Approves Hungary's €10 Billion Recovery Plan

At the Economic and Financial Affairs Council meeting on July 10, EU finance ministers formally approved Hungary's updated National Recovery and Resilience Plan, clearing the way for €10 billion in funds — around €6.5 billion in grants and €3.5 billion in loans — that had been withheld for years over rule-of-law and corruption concerns. The approval follows the political agreement PM Péter Magyar struck with European Commission President Ursula von der Leyen in May covering a total €16.4 billion package (€10B RRF, €4.2B cohesion funds tied to anti-corruption and judicial reform, and €2.2B linked to academic freedom). The plan funds anti-corruption bodies, procurement transparency, judicial independence measures, and green, digital, education, health, transport, and social-inclusion investments. Hungary must still meet 27 'super-milestones' by August 31, submit payment requests by end-September, and see disbursements completed by end-December 2026.