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Reuters
Reuters
Business
By Jan Strupczewski

EU to approve Hungary's recovery plan, hold cash until conditions met

FILE PHOTO: Hungarian Prime Minister Viktor Orban attends the inauguration of Mindszentyneum during the celebrations of the 66th anniversary of the Hungarian Uprising of 1956, in Zalaegerszeg, Hungary, October 23, 2022. REUTERS/Bernadett Szabo/File Photo/File Photo

The European Commission is likely to approve next week Hungary's post-pandemic recovery plan to keep open the possibility of EU disbursements later, but hold back any payouts until Budapest fulfils all agreed conditions, sources at the EU executive said.

Under the EU recovery scheme, Hungary could get 5.8 billion euros ($6.02 billion) in grants to spend on making the economy greener and more digital - cash Budapest badly needs amid surging inflation, slowing growth and rocketing borrowing costs.

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