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Jan 08, 2019

EC pays out 4.4 billion euros in development subsidies to Hungary in 2018

Tamás Schanda said that Hungary has now drawn 31 percent of all its subsidies for the 2014-2020 period (9,000 billion HUF), “far above” the EU average of 27 percent

The European Commission paid out a total 4.4 billion euros (over 1,400 billion HUF) in development subsidies to Hungary in 2018, it has been announced.

Tamás Schanda, state secretary at the innovation and technology ministry, said the grand total puts Hungary ahead of all countries in the central European region.

The secretary said that Hungary has now drawn 31 percent of all its subsidies for the 2014-2020 period (9,000 billion HUF), “far above” the EU average of 27 percent.

Schanda also pointed out that 65 percent of the 9,000 billion HUF total has been paid out to winning bidders, adding that all projects were being implemented “fast and to a high standard”.