“99.9% chance” EU funding (minus penalty) restored

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Government officials are optimistic that frozen European Union funds will be restored to Hungary after Chief of Staff János Lázár meets with EU Commissioner for Regional Policy Johannes Hahn on September 9. 

Speaking on Kossuth Rádió yesterday, Nándor Csepreghy, deputy state secretary in charge of development, stated that there was a “99.9% chance” that funding would be restored to 13 EU-funded operative programs after the meeting. Csepreghy figures a penalty of “5% to 10% of HUF 500-600 billion” would be assessed, thus equal to anywhere between HUF 25 billion and HUF 125 billion.

In August, the EU ceased funding to Hungary due to irregularities in reportage, a decision that could cost the country up to €2.02 billion in capital.

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