Providing 50 billion euros ($54.3 billion) at once for four years would seriously harm the European economy, especially since "it is unknown what will happen in four years," the official said, adding that Hungary does not support the idea of taking a joint loan.
Hungary is ready to ensure that "with the help of the Hungarian parliament, provide this amount from the Hungarian budget," which will be calculated for each country based on national economic indicators, Orban said.
Hungary will be forced to stop the European Union’s funding of Ukraine if Budapest’s plan on financing Kiev from outside the EU budget is rejected, Prime Minister Viktor Orban said on Tuesday.
Orban said that Hungary proposes to finance Ukraine without harming the EU’s budget and without a common loan during a joint press conference with Slovak Prime Minister Robert Fico. Hungary is read to pay its share from its national budget, the prime minister added.
“This is a proposal from Hungary. If Brussels accepts it, Ukrainians will receive assistance from outside the EU budget. And if it does not [accept it], then, unfortunately, we will be forced to stop this process,” Orban said.
In mid-December, Hungarian Prime Minister Viktor Orban vetoed an increase in the EU budget for 2024-2027, including 50 billion euros ($55 billion) in macro-financial aid to Kiev. At the same time, Orban did not vote against launching EU accession talks with Ukraine, but warned that Budapest would have "75 more opportunities" to block this process.
The European Commission acknowledged that Hungary was no longer in breach of the rule of law and agreed to release 10 billion euros ($11 billion) in frozen funds a day before EU leaders voted at a summit to launch accession negotiations with Ukraine.
In mid-September 2022, the Commission proposed to launch a special budget conditionality mechanism for Hungary, citing violations of the rule of law in the country. The mechanism blocked the provision of some 7.5 billion euros to Hungary.