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Hungary presses for annual reviews of Ukraine Facility

Hungary backs annual reviews of the Ukraine Facility, the European Union's proposed instrument to provide financial support to Ukraine, Finance Minister Mihaly Varga said after a meeting of his EU peers in Brussels on Tuesday.
16. January 2024 16:20

Hungary takes the position that the instrument, which would deliver EUR 50bn in financing to Ukraine over four years, should be assessed on an annual basis, Mr Varga said. In that framework, the European Commission would review the need for resources and their use and take a decision on the following year’s disbursement in that context, he added.

“We ended the meeting with the hope that when a final decision on the instrument is taken at an EU summit on February 1, Hungary’s proposals will also be weighed. Efforts must be made, as till now, to work on a solution that is acceptable for all member states,” Mr Varga said.

Mr Varga noted that the EC had put Hungary’s 2024 GDP growth at 2.4pc in its autumn forecast released in November, under the government’s latest forecast for 3.6pc growth.


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