The overhaul has left thousands awaiting clarity over their future
BUDAPEST – Hungary’s government has begun dismantling controversial public-interest asset management foundations created under Viktor Orbán’s previous administration, taking direct state control of dozens of institutions as part of efforts to unlock billions in frozen EU funds.
A government decree published in the official gazette Magyar Közlöny entered into force on Tuesday, transferring the state’s founder’s rights over the foundations to designated ministers and launching a rapid transition due to be completed by 31 August.
The overhaul affects the so-called public-interest asset management foundations (KEKVAs) – a network of educational, cultural, scientific and economic institutions – and has left thousands of students and staff awaiting clarity over their future.
Under the new structure, Prime Minister’s Office Minister Bálint Ruff will exercise the state’s founder’s rights over the Mathias Corvinus Collegium (MCC), one of the most prominent public-interest asset management foundations created by Orbán’s government in 2021 to place vast public assets beyond the reach of future administrations.
