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Investments backed in EU funding cycle create over 100,000 jobs

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European Union support contributed to the creation of more than 108,900 jobs in Hungary during the 2007-2013 funding cycle, according to an evaluation ordered by the European Commission (EC), Hungarian news agency MTI reported on Friday.

The ex post evaluation of Cohesion Policy programs during the funding cycle shows Hungary was the recipient of EUR 21 billion in support, equivalent to 57% of government capital expenditure and averaging an annual EUR 304 per capita. 

About 55% of the funding was invested in transport and environmental infrastructure, the report notes.

Hungary built 502 kilometers of new roads with the funding and 20 km of railway lines. Additionally, 2,521 km of existing roads and 216 km of railway lines were upgraded.

Overall, the investments supported with the funding are estimated to have boosted GDP in 2015 by just over 5% above the level it would have been in the absence of the funding. In 2023, GDP will be an estimated 4.5% or so higher because of the additional investment carried out over the 2007-2015 period, according to the evaluation.

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