EU to transfer USD 65 billion to Hungary during 2014-2020 funding period

July 17, 2015

euros

Hungary is to receive a total of EUR 59 billion (USD 65 billion) from the European Union during the 2014-2020 funding period, according to Hungary’s representative to the European Commission, Tamás Szűcs.

At the Szombathely stop of the Successful Union Tender Preparation Exhibit Series (SUPER) road show on Saturday Szűcs announced that Hungary was to receive EUR 25 billion (USD 27.5 billion) from the EU’s structural and project fund and an additional EUR 34 billion (USD 37.4 billion) in the form of agricultural supports for a total of EUR 59 billion, or HUF 12 trillion.

EU grants and subsidies amount to some HUF 700,000 (USD 2,500) per person over the next seven years. Szűcs observed that the transfers amount to an average of HUF 3 billion (USD 10.7 million) per day.

Reference:

http://www.vg.hu/gazdasag/magyarorszag-tovabbra-is-nagyon-jol-jar-az-unios-tamogatasokkal-453766