Hungary obliged to pay back nearly EUR 12 mln in EU funds

EU

The Court of Justice of the European Union (CJEU) on Tuesday rejected Hungaryʼs lawsuit against the European Commission (EC) for withdrawing EUR 11.7 million in EU support for restructuring the local sugar industry. Hungary will have to pay back the EU money after the court confirmed irregularities. 

Earlier, the EC ordered a fiscal correction of EUR 11.7 mln, which was challenged by Hungary, recalled current affairs website hvg.hu. Under EU regulations on sugar industry restructuring, companies eligible for the grant should have dismantled all of their production facilities. Sugar factories in Kaba (207 km east of Budapest) and Petőháza (186 km west of the capital) failed to fulfil these rules, keeping their old silos.

The General Court of the European Union rejected the claim of Hungary, finding that it had failed to take immediate action to remedy the identified irregularities, hvg.hu reported.

ADVERTISEMENT

Business Confidence Worsens, Consumer Confidence Improves Analysis

Business Confidence Worsens, Consumer Confidence Improves

Parliament Negates Mandatory Membership in MOK Parliament

Parliament Negates Mandatory Membership in MOK

Haulier Koncsek Trans Invests HUF 150 mln in Garage Upgrade Transport

Haulier Koncsek Trans Invests HUF 150 mln in Garage Upgrade

Budapest Leaders Unveil Plans to Scale Back Traffic on Thoro... City

Budapest Leaders Unveil Plans to Scale Back Traffic on Thoro...

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.