EU funds 5 April 2019, 8:19am

Hungary to spend over EUR 3 billion on road development scheme

Portfolio

Hungary is to embark on a five-year road development programme, a decree published in the Official Gazette showed on Thursday. The cabinet is to spend nearly one trillion forints on the scheme until 2024.

The decree stipulates that it is the task of the Minister for Innovation and Technology to see to the continued provision of EU funds for the project. László Palkovics will also need to table progress reports by 30 June every year.

inance Minister Mihály Varga was tasked to - joint with Palkovics - ensure the necessary budget funding for the programme.

The decree specifies the budget for the road development scheme for the next five years as follows:

In 2020: HUF 320,077,000,000
In 2021: HUF 332,362,000,000 forint,
In 2022: HUF 206,434,000,000,
In 2023: HUF 82,037,000,000,
In 2024: HUF 40,143,000,000.

This means the cabinet plans to spend HUF 980 billion (own and EU funds) on road development in the next five years.Cover photo by MTI/ Szilárd Koszticsák

This article is part of the work programme titled "The impacts of EU cohesion policy in Hungary - Present and Future" which is carried out by Net Média Zrt., the publisher of Portfolio.hu, between 1st April 2019 and 31st March 2020 with European Union financing. The views in this article solely reflect the opinions of the author. The European Commission as the funding entity does not take any responsibility for the use of information presented in this article.