The European Commission proposes to freeze 495 million euros worth cohesion fundings

The Commission proposes to suspend the disbursement of 495 million euros (142 billion HUF) worth cohesion fundings to Hungary from next January, because Hungary has failed to fulfill obligations of deficit reduction – was notified on Wednesday in Brussels.

The  proposal should also be discussed by the Finance Board of the EU member states and should be approved.
According to the communication published on this subject; the exactly 495,184,000 euros may by suspended from next January, from the existing commitments. It is0.5 percent of the gross domestic product (GDP) and is 29 percent of the total commitments – reports MTI.