EU institutions wasted HUF 2.3 trillion (EUR 6 billion) in 2024, based on the latest annual report by the European Court of Auditors. In addition to the shocking level of waste, the document also revealed fraud and financial abuse, MCC Brussels pointed out.
Based on the report, 3.6% of EU expenditure in 2024, which amounts to nearly four times what Hungary’s EU contribution was for 2024, was affected by waste, error, or suspected fraud.
Every Hungarian taxpayer contributes to the EU budget. Yet hundreds of billions of forints are wasted on failed projects, disappearing subsidies, and loans to private individuals,”
said Frank Füredi, Director General of MCC Brussels. He added:
If a private company had such audit results, its management would resign immediately and a criminal investigation would be launched.”
Frank Füredi, Director General of MCC Brussels. Photo: Hungary Today
Overall, EU spending in 2024 totaled HUF 75.1 trillion (EUR 191.1 billion), of which HUF 2.3 trillion (EUR 6 billion) was poorly spent. The Court of Auditors’ “adverse opinion” also serves as a warning sign that something is wrong for the sixth year in a row.
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It is worth bearing in mind that the EU’s borrowing could soon exceed HUF 353 trillion (EUR 900 billion). At the same time, the EU and its member states have given Ukraine more than HUF 50 trillion (EUR 130 billion) since the start of the war.
There are several suspicious items on the list of EU expenditures: In Greece, for example, an EU-financed loan was used to purchase a private villa with a swimming pool; HUF 255 million ( EUR 650,000) were transferred to an NGO, but there is no trace of where this money went; HUF 235 million (EUR 600,000) was spent on greenhouses and childcare centers in West Africa, which were found abandoned or collapsed; HUF 1.57 billion (EUR 4 million) was spent on a leather tanning center and poultry market in Northwest Africa that no one ever used.
These are not isolated mistakes. They are symptoms of a culture where accountability is lacking, and taxpayers are paying the price.”
said Frank Füredi.
The European Court of Auditors acts as the EU’s financial watchdog, but a “background check” of its 27 members raises serious concerns about its independence: 59% of its members are former politicians, only 48% have serious professional auditing qualifications, and 44% have no auditing experience whatsoever.
This raises questions about whether the Court of Auditors is truly independent or merely another EU body protecting its own people and system.
Like all EU Member States, Hungary contributes significantly to the EU budget. In 2024, for example, our country paid in HUF 616.7 billion (EUR 1.597 billion). However, the Court of Auditors’ report points out that a significant portion of these funds were used inefficiently by EU institutions, or even wasted on bogus projects. In other words, while Hungarian families are facing rising costs, Brussels continues to mismanage billions of euros, without any consequences.
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Via MCC Brussels; Featured photo: Pexels
The post EU Audit Reveals €6 Billion Waste, MCC Brussels Warns of Mismanagement appeared first on Hungary Today.
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