The following is the English translation of a press release kindly provided to us by MCC Brussels.
The European Court of Auditors (ECA) has revealed alarming levels of waste, fraud, and financial mismanagement within EU institutions in its latest annual report. According to its report, 3.6 per cent of EU expenditure in 2024—€6 billion (HUF 2.3 trillion), nearly four times Hungary’s EU contribution for the year—was affected by waste, errors, or suspected fraud.
Despite repeated calls for reform, Brussels’s financial discipline continues to deteriorate.
‘Hungarians need to know where their money is going,’ Director General of MCC Brussels Frank Füredi said. ‘Every Hungarian taxpayer contributes to the EU budget. Yet trillions of forints are squandered on failed projects, disappearing subsidies, and loans to private individuals. If a private company faced audit results like this, its management would resign immediately—and criminal investigations would follow.’
Key Figures:
- Total EU expenditure in 2024: 75.1 trillion HUF (€191.1 billion)
- Error rate: 3.6 per cent (2.3 trillion HUF / €6 billion poorly spent)
- For the sixth consecutive year, the Court of Auditors issued a disclaimer of opinion, signalling serious concerns.
- EU debt could soon surpass 353 trillion HUF (€900 billion).
- Since the start of the war, the EU and its Member States have provided Ukraine with over 50 trillion HUF (€130 billion).
Examples of Waste and Fraud:
- In Greece, an EU-funded loan was used to purchase a private villa with a swimming pool.
- 255 million HUF (€650,000) was transferred to an NGO with no trace of its use.
- 235 million HUF (€600,000) spent on greenhouses and childcare centres in West Africa were found abandoned or collapsed.
- 1.57 billion HUF (€4 million) was given to a leather tanning centre and a poultry market in Northwest Africa—neither project was ever used.
‘These are not isolated mistakes,’ Füredi added. ‘They reflect a culture lacking accountability, with taxpayers paying the price.’
Are EU Auditors Truly Independent?
The European Court of Auditors is tasked with overseeing EU finances. However, a review of its 27 members raises serious questions about its independence:
- 59 per cent are former politicians.
- 44 per cent have no auditing experience.
- Only 48 per cent hold substantial professional auditing qualifications.
‘It’s hard to see the Court as a truly independent watchdog—this looks more like foxes guarding the henhouse,’ Füredi stated.
Hungary’s Contribution
Hungary contributes significantly to the EU budget. In 2024 Hungarian taxpayers provided 616.7 billion HUF (€1.597 billion).
The ECA’s findings suggest that much of this money is wasted on inefficient or fraudulent projects across Europe and beyond. While Hungarian families struggle with rising living costs, Brussels continues to mismanage billions without consequences.
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