Are you sure?

Net EU transfers to Hungary exceed €2.6 bln in 2010

Hungary received €646 million in net transfers from the European Union in the last quarter of 2010, cashflow-based figures in the National Bank of Hungary's recently published quarterly report show. The Q4 transfers brought the full-year total to €2.615 billion.

Fourth-quarter net transfers were €116 million higher than a year earlier, but total 2010 transfers still fell €115 million short of their level in 2009, Econews calculated based on the data.

Net EU transfers to Hungary jumped from between €1 billion and €1.3 billion in the years up to 2008 to €2.73 billion in 2009. The transfers played an important part in giving Hungary a net external financing capacity in the past two years.

The MNB will publish accrual-based figures on net EU transfers, including a breakdown of current and capital transfers, as part of balance of payment data on March 31. (MTI – Econews)