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EC defunds some projects, agrees to fund others

Telco

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After choosing not to fund projects that it found problematic, the European Commission lifted its suspension of funding for Hungary that was introduced in April, when Brussels found issues with the way in which the country selects projects, deputy state secretary Nándor Csepreghy said, according to national news agency MTI.

Following discussions, the two sides agreed that Hungary will not lose funds but apply them to developments that were earlier financed from the budget. Regarding projects the EC found problematic, the commission is applying a HUF 21.7 bln flat-rate correction.

The state secretary reportedly said that the end of the suspension means Hungary will be transferred approximately HUF 210 bln in development funding, the state secretary added.

Since 2007, funding has contributed to some HUF 700 bln in developments in Hungary, the state secretary said, adding that recipients did not experience the suspension as the Hungarian government pre-financed payouts from the this year’s budget.

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