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EU to Back Funding Cuts for Hungary on Orban Graft Concerns

  • European Commission decision to come on Sunday, official says
  • Forint drops on investor concern about Hungary’s EU funding
Viktor Orban

Viktor Orban

Photographer: Dylan Hollingsworth/Bloomberg
Updated on

The European Union’s executive arm plans to recommend cutting funding for Prime Minister Viktor Orban’s administration on concerns about widespread graft in Hungary, according to senior EU officials.

The European Commission aims to formalize its assessment on Sunday, said the officials, who asked not to be named because the position hasn’t been officially finalized. EU governments will then make the final decision within three months and a qualified majority of member states will be required for the executive’s proposal to take effect.