53 Billion Forints Secured in New EU Transfer

MTI-Hungary Today 2024.01.17.

On Wednesday, Minister of Finance Mihály Varga announced that Hungary has received an additional EU transfer of HUF 53 billion (EUR 139M), as shared on his Facebook page.

The Minister of Finance mentioned that in the last three weeks, Hungary has seen a total inflow of over HUF 520 billion (EUR 1.3B) from previously blocked funds. At the close of December last year, HUF 300 billion (EUR 779.5M) was transferred from the EU Recovery Fund to the Hungarian budget. At the beginning of this year, an additional HUF 170 billion (EUR 445M) was received for the budgetary period 2021-2027.

Fact

As previously reported by Hungary Today, the European Commission decided in December 2023 to release a EUR 22 billion (HUF 8,371B) Cohesion Fund allocation. The first installment of EUR 445 million (HUF 170B ) was paid on January 2. The payment of the funds was subject to the fulfillment of the conditions set out in the Rule of Law Procedure by the European Commission. Minister of Justice Bence Tuzson announced the completion of these criteria after a meeting of the EU Justice Committee in early December. Of the funds released at the beginning of January this year, EUR 240 million will support the development of the Integrated Transport Operational Program Plus and EUR 205 million will support the Economic Development and Innovation Operational Program Plus.

Minister of Finance, Mihály Varga. Photo: Facebook

Mihály Varga added:

Today, this was complemented by another HUF 53 billion (EUR 140M), in advance of the non-reimbursable grants of the Recovery and Resilience Instrument.”

Last Installment of EU Recovery Funds Granted to Hungary

The first tranche of EUR 779.5 million was disbursed to Hungary on December 28.Continue reading

Via MTI; Featured Image: Pixabay