EU transfers to Hungary reach EUR 4.4 bln in 2018

MNB

Transfers to Hungary of European Union development funding came to EUR 4.4 billion last year, or more than HUF 1.4 trillion, Tamás Schanda, minister of state for EU development policy at the Ministry for Innovation and Technology, told journalists on Monday.   

About EUR 1.7 bln of the total arrived from Brussels in December, and some EUR 1 bln was for payouts for the 2007-2013 funding period, Schanda was cited as saying by state news wire MTI. Transfers for the 2007-2013 period now cover 100% of the funding awarded, he added.

Hungary has already drawn down 31% of the HUF 9 tln in EU monies available to the country during the 2014-2020 funding cycle, well over the 27% average for other member states, Schanda said. Hungaryʼs government has already called tenders for 110% of the available funding and taken decisions on 107% of the amount, he added. The government assumes some projects will not be implemented, but does not wish to lose any of the awarded funding, which he said explains the overshoot. 

The government has paid out 65% of the funding, providing grant winners with a large amount of pre-financing from the central government to avoid a backup at the end of the funding cycle, noted Schanda.

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