KPMG: Hungary does a great job of using EU funding
In the 2007-2015 financial cycle, Hungary’s performance in terms of calling down European Union funds stands out in the CEE region, according to a report published today by KPMG.
In terms of contracted grants, Hungary finished second highest in the region, with 117%, while in terms of paid grants, Hungary finished first with 111% of the available grants, KPMG’s annual “EU Funds in Central and Eastern Europe” report shows.
According to KPMG, Hungary contracted €29.2 billion of grants and got paid €27.7 bln out of the available €24.9 bln in the 2007-2015 period. A total of €21.6 bln was certified by the European Commission, the KPMG report added.
The KPMG report pointed out that, when the 2015 close of the previous funding period approached, Hungary put a great emphasis on accelerating the payments. The payment ratio in 2013 rose by 20 percentage points to 62%, and it further rose by 25 percentage points in 2014 to 87%, finally reaching 110% in 2015 after an approximately 23-percentage-point rise, KPMG said.
KPMG notes that Hungary’s focus on absorption is apparently paying off, and loss of funding will not take place. “Although the conclusions of the 2007-2013 period have yet to be drawn, according to the cohesion policy, decision-maker supported projects should see improvements in quality in the next programming period”, the report says.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.