Hungarian Film Week, Hungary's most important film festival, has been cancelled for 2011 because of a lack of funding, industry journal Variety reported on Thursday.
Éva Vezér, general manager of Magyar Filmunió, which invites international guests to the festival, announced the cancellation in an email, Variety said.
The festival's backer, the Hungarian Motion Picture Foundation, decided a week earlier to postpone the festival after its budget was cut by the government.
The foundation “and the whole film support system in Hungary are facing structural changes on which no further details are available for the time being,” Vezér said in the email.
“Hopefully, by 2012, it will be realized by the competent decision makers as well how important the event and the timing of our showcase is,” she said.
Hungary's film industry was worth HUF 48.5 billion in 2009, Econews reported earlier. Hungarian films generated HUF 13.1 billion of the total, co-productions brought in HUF 20.1 billion and contract work for foreign productions was worth HUF 15.2 billion. (MTI-Econews)