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Hungary has HUF 1,800 bn – HUF 1,900 bn in 2007-2013 development funding left

Hungary's new government has HUF 1,800 billion-1,900 billion (€6.4 billion-6.75 billion) in 2007-2013 development funding left from the original amount of €22.4 billion (HUF 6,331 billion at current rates), Ministry of National Development State Secretary Ágnes Molnár said on Friday.

Molnár noted that the government had withdrawn 17 major EU-funded projects and initiated a review of a further 61 projects, adding that it had recommended that 600 such projects be continued in unaltered form. The state secretary said that the measures had disengaged HUF 41 billion in development funding.

The government has been negotiating in Brussels to get approval to the rechanelling of EU funds as it plans to spend at least HUF 1,000 billion on the New Széchenyi Plan, the state secretary said.

The New Széchenyi Plan, replacing the previous government's New Hungary development plan, aims to provide Hungarian SMEs with HUF 1,000 billion in combined EU and government funding by 2013, the end of the current EU budget period. (MTI-Econews)