It depends also on Hungary whether EU funds will still be available after 2020, and in order to ensure they are the country needs to make sure the best projects creating real economic impact are selected, the European Commissioner for Regional Policy told Portfolio in a video message which was presented at a recent Portfolio conference on EU funds. Corina Cretu projected "tough negotiations" to start this year on EU funds to be available after 2020.
Cretu noted that EU funds represent more than half of Hungary’s public investments. She applauded Hungary for putting the focus on supporting enterprises and innovation, with 60% of the funds to be used for directly stimulating economic development.
She stressed the importance of how the available resources are used, i.e. to ensure that the best projects are selected.
"Transparent and competitive selection procedures are fundamental to achieve this. Competition in public procurement is essential as it ensures us high-value added and support for small- and medium-sized enterprises, which are priorities for Hungary," she said.
We must be aware that the future of cohesion policy and the future availability of EU funds will depend on our success of your success on good projects you implement. We must prove that cohesion policy delivers in time according to the rules and certainly with a real impact on the ground.
Click on the video below for the Commissioner’s full video message.