**Hungary Loses Billions in EU Funds**
Hungary is losing access to over €1 billion in European Union funds. This comes after a long-standing dispute between the Hungarian government and Brussels. The EU has frozen these funds due to concerns about corruption, human rights violations, and opposition to migration policies.
**Reason for Dispute**
The main reason for this dispute is Hungary’s opposition to military aid to Ukraine since Russia’s 2022 invasion. The country’s Prime Minister, Viktor Orbán, wants to freeze the war and give control of occupied territories to Moscow. This stance has put him at odds with the EU.
**Economic Impact**
Hungary’s economy is already facing a recession. Its GDP has shrunk by 0.7% in the third quarter, and its budget deficit stands at over 4.5% of GDP. The country’s key manufacturing sectors are also struggling due to weak demand.
**Alternative Solutions**
The Hungarian government is now seeking alternative solutions to replace the lost EU funds. They are turning to Asian investors under a policy called “economic neutrality.” This move comes as Hungary tries to find new ways to fund its economy.
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