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KPMG: Hungary does a great job of using EU funding

Int’l Relations

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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.

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