EU Commission approves Hungary's revised €10bn recovery plan at Magyar's first EU summit

Published on 19/06/2026 - 17:12 GMT+2•Updated 17:18

As Hungary's new prime minister, Péter Magyar, attended his first European summit, the European Commission approved Hungary's revised Recovery Plan, Euronews has learned.

The document is central to the new government's strategy to gain access to €10 billion from the EU's post-pandemic recovery funds.

The Hungarian plan includes rail projects, energy infrastructure and housing schemes, but it still needs the approval of all EU member states in the Council in July to be fully funded.

Hungary must meet 27 so-called "super milestones" by the end of August for the funds to be released.

In May, Magyar reached an agreement with European Commission President Ursula von der Leyen to draw down a total of €16.4 billion in funds that were frozen by the EU during Viktor Orbán's tenure over corruption concerns.

Hungary submitted its revised Recovery plan nine days ago after weeks of intense talks with the Commission.

Magyar ousted Orbán's right-wing government in the April Parliamentary elections, campaigning on bringing Hungary back into the European mainstream and securing funds that had been withheld for years.