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HUF 800 bln in bridge financing for EU-funded programs

Initiatives

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The Hungarian government has approved a HUF 800 bln temporary overshoot of financing for European Union-funded projects in the 2016 budget, a government resolution published in the latest issue of the official gazette Magyar Közlöny shows, according to Hungarian news agency MTI.

The resolution aims to manage any liquidity shortfalls of EU-funded programs before Brussels transfers the funding. After the funding is transferred, the budget accounts must be resettled. 

Hungary is front-loading payouts of EU funding during the 2014-2020 funding cycle.

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