Hungary's new government, led by Prime Minister Peter Magyar, estimates that between eight and ten percent of the country's GDP has been embezzled in recent years.
According to Tisza leader Magyar, this amounts to at least 60 billion euros, equivalent to 660 billion kronor, which disappeared during Viktor Orbán's previous rule.
The new authority will identify, track and recover assets that have been criminally taken from the public, the government announced this summer when the law on the new authority was passed, writes Reuters.
Successful anti-corruption efforts could accelerate Hungary's access to blocked EU funds.
The authority will be led by political scientist Anna Unger and several prosecutors.
