€24 billion net EU funding for Hungary in 2007-2013

EU

Preliminary data indicates that Hungary received net European Union funding of €24 billion during the EU’s 2007-2013 budgetary cycle, European Court of Auditors member Szabolcs Fazekas announced yesterday.

Fazekas said that the European Union allocated €32.8 billion in total funding, including agricultural- and rural development subsidies, to Hungary during the seven-year budgetary cycle.

Fazekas noted that Hungary was able to utilize more than 90% of the European Union funding available to the country during the EU’s 2007-2013 budgetary cycle, and 99.8% of public investments were financed from EU funds.

Preliminary calculations show that Hungary’s net beneficiary position will be maintained in the new 2014-2020 budgetary cycle as well, again to the tune of around €24 billion, Fazekas said.

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