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Hungary Could Reach Deal on EU Funds by end-November - Minister

EU

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Regional Development Minister Tibor Navracsics said he trusted Hungary would reach an agreement with the European Commission on access to its European Union funding "by the end of November", speaking at a conference organized by Portfolio.hu on Tuesday, according to a report by state news wire MTI.

Navracsics said the "final phase" of talks on the matter would start on Thursday.

The minister noted that Hungary had called down just 3% its EU funding for 2021-2027, part of which was related to projects pre-financed from the budget and the other part for covering organizational development and infrastructure activities necessary to absorb the rest of the funding.

He noted that Hungary had sent a request to the EC for around HUF 1.5 tln in credit in the framework of the Recovery and Resilience Facility (RRF) by the August 31 deadline. Hungary will get another HUF 268 bln in RRF grant money, he added.

Navracsics said Hungary had called down 94% of its EU funding for the 2014-2020 period, adding that he hoped the rate could be as high for the 2021-2027 period.

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