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European Commission Conditionally Grants Hungary Cohesion Funds

HUNGARY
  • The European Commission on Thursday granted its approval to Hungary concerning cohesion funding subject to relevant conditions being met. The statement reads “On judicial independence, the Commission considers that Hungary is committed to remedy the deficiencies, as the recovery and resilience plan submitted by Hungary includes reforms aiming at the strengthening of judicial independence. Therefore… [conditions are considered approved] once Hungary has taken the measures on the judiciary to which it has committed under the country's Recovery and Resilience Plan.”
  • See the full statement here: https://ec.europa.eu/commission/presscorner/detail...
  • Hungary's central bank has said it expects a decline in inflation to become "increasingly pronounced" in the second half of 2023 owing to both internal and external factors, MTI report. Furthermore, slowing economic growth is set to see a "quick rebound" from July, central bank director Balatoni said on Thursday.
  • There are no major economic releases or speakers scheduled today ahead of the festive break.
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