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ÚMFT-disbursements to reach HUF 1,300 bn by end-2010

Disbursements from the New Hungary Development Plan (ÚMFT) are to reach a minimum of 18% of the full seven-year limit or HUF 1,300 billion from the beginning of 2007 to the end of 2010, according to the transfer document prepared for the new government published on the National Development Agency (NFU) website.

NFU's calculations show that HUF 78 billion in national co-funding is required for the utilization of EU development funds this year, and another major item is constituted this year by expenditures not accountable as costs for transport projects - such as VAT, estimated at HUF 17 billion.

Co-financing for other international programs such as the Norway Fund, the Swiss Fund, the European Regional Cooperation (ETE) - will require HUF 14 billion in national co-funding this year.

The document also notes that the cohesion (former ISPA) projects must be closed in 2010. The European Commission is to retain the last 20% of the refunds until the final closure of the projects. This year, the cohesion projects will require HUF 65 billion in national co-funding. Any overshoots on these projects' budgets must also be covered by the Hungarian national budget, which amounts to a further HUF 18 billion, the document says.

In January-April 2010, 75 tenders with a combined value of HUF 197 billion were announced as part of the New Hungary Development Plan, with contracts signed for 28 priority projects. The amount of the funding approved exceeds HUF 216 billion.

By the end of April 2010, 4,317 projects received funding as part of the ÚMFT, with the funding allocated worth HUF 5,35.9 billion. During this period, disbursements worth HUF 187 billion were paid for 22,864 invoices and advances.

From the Cohesion Fund, HUF 20.5 billion in funding was paid in January-April 2010.

The government backed the submission of three major projects to the European Commission in January-April, these have combined funding of close to HUF 80 billion. (MTI-Econews)