€24 billion net EU funding for Hungary in 2007-2013

Preliminary data indicates that Hungary received net European Union funding of €24 billion during the EU’s 2007-2013 budgetary cycle, European Court of Auditors member Szabolcs Fazekas announced yesterday.

Fazekas said that the European Union allocated €32.8 billion in total funding, including agricultural- and rural development subsidies, to Hungary during the seven-year budgetary cycle.

Fazekas noted that Hungary was able to utilize more than 90% of the European Union funding available to the country during the EU’s 2007-2013 budgetary cycle, and 99.8% of public investments were financed from EU funds.

Preliminary calculations show that Hungary’s net beneficiary position will be maintained in the new 2014-2020 budgetary cycle as well, again to the tune of around €24 billion, Fazekas said.

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.

Support the BBJ

Foreign Affairs