Hungary creates authority to recover billions allegedly stolen by previous government

Budapest’s newly appointed prime minister has pledged to retrieve billions of euros that he says were stolen or misappropriated by the outgoing government. To carry out the effort, the administration is establishing a “super authority” tasked with investigating financial irregularities, tracing assets abroad, and initiating legal proceedings to reclaim the funds. The authority will operate under a special legal framework that grants it expanded investigative powers, including access to bank records, cooperation with foreign law‑enforcement agencies, and the ability to freeze suspect accounts.

Officials indicate that the authority’s performance will be a litmus test for the new government’s credibility and its capacity to address corruption. Success could bolster public confidence, improve Hungary’s fiscal outlook, and influence the country’s standing with international partners, while failure may reinforce skepticism about the administration’s reform agenda. The initiative is slated to commence within weeks, marking a decisive step in the government’s broader anti‑corruption drive.