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Hungary signs contracts for half of EU funding available in 2007-2013 - KPMG

Hungary has signed contracts for 51%, or €15 billion, of the European Union funding available to the country in the 2007-2013 budget period, Éva Várnai, who coordinates public sector consulting in the region for KPMG, said at a press conference on Monday.

Hungary paid out 16% of this funding, or EUR 4.8 billion, by the end of 2010, Várnai said.

Contracts were signed for 68% of funding available for transportation developments and for more than half of funding available for economy and labor market developments by the end of 2010. But contracts for less than half of the funding available for energy and research had been signed.

Várnai acknowledged steps Hungary has taken to ease access EU funding, such as reducing the limit for payouts of funding from 60 to 15 days and simplifying the documents required to modify contracts.