Summary
Hungary will lose €1.04 billion in EU funds on January 1, 2025, as disputes with Brussels over corruption and rule of law persist, deepening its recession.
Hungary faces a deepening recession, with with €6.3 billion frozen over rule-of-law concerns, and €200 million lost annually due to daily fines for illegal asylum seeker treatment, alongside a 0.7% economic contraction and a 4.5% budget deficit.
Prime Minister Viktor Orbán is looking to Chinese investment to offset the €19 billion in blocked EU funds.
While Chinese projects, such as a battery plant, have increased, experts doubt they can replace the scale of EU funding.
Then that needs to be changed, the country will be fucked up until it’s fixed.
For sure - it’s a bad situation all around. Hungary is not a democracy, it’s an oligarchy masquerading as a democracy.