Hungary Gets $18 Billion from Europe After Making Changes

Hungary will receive $18 billion from the European Union after making important changes to its government. The EU had frozen this money because of problems with Hungary's old government. European Commission President Ursula von der Leyen announced the decision on May 29 in Brussels. This money will help Hungary's economy, which has been struggling for three years.

The EU money comes in three parts. Hungary will get $11.6 billion from a recovery fund called Next Generation EU. They will also receive $4.6 billion in other EU funds. Another $2.4 billion will come later when Hungary finishes more reforms.

Hungary's new Prime Minister Peter Magyar met with von der Leyen to discuss the money. Von der Leyen said Hungary had made good progress with reforms under its new government. She praised the work that Hungary had done. The Hungarian people deserve this funding, according to the EU leader.

Hungary needed this money badly because its economy has barely grown in three years. The country's previous leader, Viktor Orban, spent lots of money before elections last month. This left Hungary with big debts that could reach 6.2% of the country's total economy by 2026.

The new government had to prove it was serious about fighting corruption. Corruption was a major problem under Orban's government, and it was one of the main reasons the EU froze the money. Magyar said his government's anti-corruption efforts were working and promised to use the EU money wisely.