This story is a part of the weekly newsletter about economy, defence, and tech in the eastern flank of Nato, How we cee it.
Hungary’s new prime minister, Péter Magyar, has managed to move his country closer to accessing the European funds that had been frozen over the rule-of-law abuses of Viktor Orbán’s regime.
More challenges, however, await with another crucial batch of resources Hungary has been missing out on: the EU’s SAFE programme (Security Action for Europe).
Hungary remains the only country in the EU whose plan for the cheap rearmament loans has not yet been approved by the European Commission. More than €16.2bn has been earmarked for the central and eastern European country.
Securing these loans is crucial for Hungary’s rearmament. The sum is so significant that it would cover a decade of modernising the armed forces — something the country could not otherwise afford in the financial state it finds itself in after 16 years of Orbán’s rule.
