Hungary starts new round of talks on releasing EU funds

Hungary will start another round of talks on Monday with the European Commission about releasing suspended EU funds, Prime Minister Peter Magyar said,

adding he hoped to sign a political agreement on the matter in Brussels next week.



Hungary is racing to meet an August 31 deadline to become eligible for 10.4 billion euros from the European Union's post-pandemic recovery fund. While the task is ambitious, it is achievable, three EU officials said last week.



Magyar, who ousted former right-wing leader Viktor Orban in an April 12 election landslide, said he had exchanged letters with European Commission President Ursula von der Leyen over the weekend, followed by a high-level visit to Budapest this week.



Hungary needs the funds to shore up its state finances. Magyar inherited a soaring budget deficit and an economy that barely clambered out of recession in the first quarter after years of stagnation.