ADVERTISEMENT

Report: Hungaryʼs Ministry of Agriculture closes loophole

EU

Hungary’s Ministry of Agriculture is reportedly closing a loophole that big land owners use to get around an exclusion from European Union farmland subsidies, Hungarian economic daily Napi Gazdaság said today.

According to the paper, although, owners of farmland larger than 1,200 hectares are not eligible for the EU’s single area subsidies, they have still been collecting them by “artificially” dividing their properties to push each under the threshold.

The farm ministry has transposed a 2013 EU directive into national law that sanctions such divisions of land holdings, the paper said, adding that the regulations, in force retroactively from 2011, will prevent landowners who are ineligible for the subsidies from collecting them in such a manner.

ADVERTISEMENT

Czech economic confidence weakens in November Analysis

Czech economic confidence weakens in November

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

New Jewish cultural hub opens in Budapest City

New Jewish cultural hub opens in Budapest

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.