7.4 billion forints will be reimbursed to the producers

By: STA Date: 2023. 10. 04. 09:00

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On October 6, 2023, the Hungarian State Treasury will begin refunding to more than 70,000 producers the amount of HUF 7.4 billion that was previously withdrawn for the purpose of filling up the EU-level crisis reserve, but not used there.

(Photo: Pixabay)

Following the practice of previous years, an EU-level reserve had to be formed last year as well to deal with serious crises affecting agricultural markets. This source was provided by the European Commission every year at the expense of direct subsidies, using the so-called financial discipline mechanism. This mechanism also had to be applied in 2022 to all direct payments per producer exceeding 2,000 euros. Based on EU regulations, amounts taken from farmers but not used must be paid back to those concerned.

The Hungarian State Treasury will start transferring the amounts to more than 70,000 producers on October 6. The total amount of the refund is about HUF 7.4 billion. Farmers can also expect payments under many additional rights this year, as the transfer of advances for the unified applications submitted in 2023 will begin in mid-October.