Magazine: Many development programmes will be announced early summer

In the 2014-2020 EU budgetary period development policy must focus on employment and competitiveness. If all programmes are considered, Hungary is entitled to HUF 12,000 billion worth of European Union funding and about 60 percent of this will be spent on economic development programmes. Various ministries will announce 133 EU-funded programmes in the value of HUF 2,900 billion this year. The European Commission has already given the green light to 7 of Hungary’s operative programmes (Rsztop, Ginop, Ikop, Kehop, Top, Vekop, Efop) and 2 more will be submitted to the EC. Brussels will decide on the new Rural Development Programme at the end of May. The budget for financing projects is HUF 1,250 billion and the new programmes will be announced early summer. While in the 2007-2013 budgetary period only 16 percent of financial resources were spent on economic development, in the current period this ratio will reach 60 percent. Hungary has already received the first instalment, EUR 383 million from the European Commission. Good news for those who apply for funding: formerly 600 different pieces of data were required but in the new period only 300 have to be sent to the authorities. Applying can be fully done online and own resources will have to be paid only after the applicant got 90 percent of the funding.