Two short stories: EU funds and detailed GDP

HUNGARY - In Brief 01 Dec 2023 by Istvan Racz
1. Free Europe and Népszava (an opposition daily newspaper in Hungary) have reported in unison, referring to unnamed sources in Brussels, that the EU Commission is now expected to unfreeze the €10.5bn worth of 2021-2027 cohesion funds which are currently blocked only by their requirements regarding the independence of Hungary's judicial system, at its weekly meeting on December 13, one day ahead of the EU Council's semiannual summit meeting. The rest of cohesion and RRF funds would remain frozen.  The basis for this decision is reportedly an official response to the Commission's latest letter, presented two days ago, which contained commitments on certain remaining legal issues. Sources claim that this response was found by the Commission satisfactory. Sources denied, just as all other speakers previously, that the Commission's upcoming decision would be linked in any way to a possible political deal on Hungary's objections and even expressed veto threats on three Ukraine-related subjects: the next instalment of the EU's Peace Facility, a €100bn increase in the medium-term fiscal framework (the running seven-year EU budget), and the start of accession talks with Ukraine. We are not completely sure that these comments are factually correct, though we understand that the existence of any such political deal could not be publicly admitted. Based on this decision, payouts to Hungary under the unblocked part of cohesion programs could start soon. By now, Hungary has presented reimbursement invoices, related to completed projects under those programs, in a total value of €0.5bn. 2. Detailed Q3 GDP data has been published this morning. Just as suspected, the massive recovery ...

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