Hungary's next PM says frozen EU funds will be paid out soon

The incoming government has until the end of August to start pushing through reforms to try to secure the 10 billion euros left over from Covid recovery funds, or risk losing them.

The incoming Hungarian premier said he aimed to meet Ukraine's President Volodymyr Zelensky in June to open a new chapter in EU-Ukraine relations.

Officials expect Magyar to lift Orban's veto preventing Kyiv from moving to the next step in its bid to join the bloc, though major powers show no appetite for rushing Ukraine toward membership.

Officials say Magyar could move quickly on reforms if he secures a parliamentary super-majority to ease passing laws.

European Council President Antonio Costa met with Magyar, echoing messages of unity in Europe during the transition.

Ursula von der Leyen hailed the meeting as a 'very good exchange' and said steps to unlock EU funds were discussed; the European Commission will support Hungary's work to realign with European values.

Magyar and von der Leyen describe the meeting as highly constructive and agree that Magyar will return to Brussels in late May to finalize terms to unlock EU funds.

Incoming Hungarian prime minister Peter Magyar meets European Commission chief Ursula von der Leyen in Brussels on his first visit since defeating Viktor Orban. Magyar says frozen EU funds will start arriving soon and posts that a deal to free up funds will be discussed during a return visit planned for late May. He aims to secure about 18 billion euros blocked over rule-of-law concerns.

Hungary's EU partners approved a mammoth loan for Ukraine and a new package of sanctions on Russia last week, moves seen as removing major blockages to Kyiv's progress toward closer EU alignment.

Officials note a possible early win could be to wave through a separate 16 billion euros in preferential defence loans that were held up during the dispute with Orban.

Magyar aims to meet Ukrainian President Volodymyr Zelensky in early June in the Hungarian-majority town of Berehove in southwest Ukraine.

Magyar said he would return to Brussels on 25 May 2026 to sign a political agreement.

Magyar identified priorities: unlocking €10.4 billion of the EU Covid-19 recovery fund before it expires at the end of August 2026, subject to anti-corruption and rule-of-law milestones; seeking €6.3 billion in cohesion funds; potential access to €16.1 billion in cheap EU defence loans; and aiming to end a €1 million daily migration-related fine.

In Brussels, Magyar met European Commission President Ursula von der Leyen and European Council President António Costa. He called the talks extremely constructive and said EU resources would soon arrive to help unlock billions for Hungary.

Orbán's veto on a €90 billion loan to Ukraine was lifted at an informal EU summit last week, and Magyar signaled a reset of relations with Kyiv by offering to meet President Volodymyr Zelensky in early June in Berehove, Ukraine.

Two days after the election victory, Magyar spoke to EU Commission President Ursula von der Leyen by telephone to press for the release of frozen EU funds for Hungary.

Péter Magyar's Tisza party wins a landslide in the National Assembly elections, securing 141 seats in the 199-seat chamber and achieving a two-thirds majority.