HUF 800 bln in bridge financing for EU-funded programs
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.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.