Hungary Adopts New Anti-Corruption Strategy to Unlock EU Funds

(Bloomberg) -- Hungary’s government said it adopted a new anti-corruption strategy as part of efforts to unlock crucial European Union funds, without immediately disclosing details.

Most Read from Bloomberg

• Manchester Is Giving London a Run for Its Money

• Boston’s Broke and Broken Transit System Hurts Downtown Recovery

• A Floating Island in Baltimore Raises Hope for a Waterfront Revival

• A Warehouse Store Promises Housing for South LA, in Bulk

• The Cross-Continental Race Using Only Public Transit

The cabinet approved anti-fraud and anti-graft steps related to the bloc’s funding, according to a decision signed by Prime Minister Viktor Orban and published in the official gazette late Thursday. The measures will be published on a dedicated website, the government said, though it didn’t set a specific deadline.

The EU is withholding about €20 billion ($22 billion) of funding earmarked for Hungary due to graft and rule of law concerns under Orban’s rule. Hungary ranks as the most corrupt nation in the EU in graft-watchdog Transparency International’s latest annual survey.

Earlier this year, the head of Hungary’s Integrity Authority — a state institution set up at the EU’s request to identify the misuse of the bloc’s funds — asked for additional powers to fight high-level corruption.

Most Read from Bloomberg Businessweek

• Inside Worldcoin’s Orb Factory, Audacious and Absurd Defender of Humanity

• Surgeons Cut a Giant Tumor Out of My Head. Is There a Better Way?

• New Breed of EV Promises 700 Miles per Charge (Just Add Gas)

• Singapore's Wooden Building of the Future Has a Mold Problem

• There’s a Gender Split in How US College Grads Are Tackling a More Difficult Job Market

©2024 Bloomberg L.P.