Economy 11 August 2017, 2:41pm

Payment of EU funds slow down in July

Portfolio

The government has slowed down the transfers of EU funds. While in June, they have allocated HUF 500 billion, In July, they only paid out HUF 105 billion. At the moment, nearly one third (29.6%) of the total funding assigned to the current 7-year cycle is already in the pockets of the winners, but 60% of the funding has already been allocated: more than 40 thousand winners received almost HUF 5500 billion.

In July, there have been two new tenders with a total value of HUF 4.3 billion. The frame value announced for all operative programs combined has reached HUF 9287 billion, wich is 104.1% of the amount that is available for this 7-year cycle.

More than 40 thousand happy winners

Based on the statistics found on the official website, 41370 winners were allocated a total of HUF 5430 billion subsidies as of August 8. There have been 15045 new winners compared to June, who will share HUF 208 billion. The largest number of winners can be found in the Rural Development Program (14318 winners), followed by the Economic Development and Innovation Operative Program (GINOP, 441 winners), and the Spatial Planning and Urban Development Operative Program (TOP, 136) placing third. Out of the total HUF 5430 subsidies allocated, there have been HUF 2638 paid out.

While in June, the government transferred HUF 503 billion, in July, this number dropped to HUF 105 billion. The reason for the June hike was to be able to meet the payout target, which is an important measurement for the administration, on which their bonuses are based. The same trend was visible last December when the government was also under pressure to meet the payout target of the EU funds.