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Govʼt launches social consultations on 2021-2027 EU funding cycle

Hungaryʼs government on Thursday launched a three-month round of social consultations on the next 2021-2027 European Union funding cycle, state news wire MTI reports.

Observations and remarks can be made until the end of January at, state secretary for EU developments Szabolcs Ágostházy said.

Hungary is set to get EUR 51.3 billion during the funding period, including EUR 16.7 bln from the Next Generation EU instrument.

The government will continue its practice of pre-financing EU-funded projects and expects to call the first tender for the 2021-2027 money in Q1 2021, Ágostházy said. The first transfers of the fresh funding from Brussels are not expected to arrive until Q3 2021, he added.

The government has been pre-financing EU-supported projects for years to prevent a backup at the end of the funding period. The practice impacts the cash flow-based general government deficit but not the accrual-based ESA gap.