The Hungarian government stated that the institution aims to investigate alleged systemic abuses of public assets over past decades, emphasizing that uncovering state property losses is essential to restoring public trust and ensuring transparent governance.
BUDAPEST, July 28 (Xinhua) -- Hungary's parliament on Tuesday approved legislation to establish a new National Asset Recovery and Protection Office (MNVVH), fulfilling a key campaign pledge by Prime Minister Peter Magyar's Tisza party to combat corruption and recover misappropriated public funds.
The bill passed with 143 votes in favor and 47 against.
Under the new law, the office will operate independently and report directly to parliament. Lawmakers are set to elect its president and deputy presidents within 30 days after the law takes effect.
The government stated that the institution aims to investigate alleged systemic abuses of public assets over past decades, emphasizing that uncovering state property losses is essential to restoring public trust and ensuring transparent governance.
The office will hold broad investigative authority prior to the initiation of criminal proceedings. Its powers include conducting risk assessments and accessing bank account details, public registries, and official records, while collaborating with police, prosecutors, and the National Tax and Customs Administration.
Based on its findings, the agency may launch public asset protection proceedings or refer cases to law enforcement for criminal investigation.
The creation of the office was a core promise of the Tisza party during the 2026 election campaign. Magyar first proposed the initiative in July 2025, pledging to investigate major corruption cases, review concession agreements, and audit the management of state assets under previous administrations.
The bill was introduced to parliament earlier this month after the Tisza party secured a majority in April's general elections.
Following Tuesday's vote, Magyar welcomed the bill's passage on social media, stating that the office could become operational in the coming months once its leadership is appointed.
The legislation follows Hungary's final approval from the European Union (EU) earlier this month for its revised Recovery and Resilience Plan and its accession to the European Public Prosecutor's Office (EPPO) -- key steps the government highlighted in its broader effort to strengthen anti-corruption measures and unlock frozen EU funds.■
