The EU has transferred HUF 201.5bn for the Economic Development and Innovation Operative Programme and HUF 13.3bn for the Regional Operative Programme as part of the amount formerly allocated but temporarily delayed by Brussels, Deputy State Secretary Richárd Adorján said at a press conference on fiscal affairs.

He added that according to the Eurostat-approved EDP report published earlier today, the Government is expecting HUF 510bn of delayed EU funding to be transferred to the country this year, part of which was received already in the month of October. Further transfers depend on the progress that the Government and EU authorities make at coming talks.

The Deputy State Secretary called it encouraging news that the Eurostat also calculated a general government budget ESA deficit of 2.5 percent and government debt-to-GDP ratio of 76.2 percent for Hungary last year. Richárd Adorján pointed out that the parliament’s Budget Committee submitted a bill which adds HUF 25bn to both the revenue and expenditure sides of this year’s budget in order to secure financing for the Modern Cities’ Programme.

This item is projected to be covered by tax revenues that are expected to be higher than formerly anticipated, thanks to Government measures designed to boost Hungary’s economic growth and improve transparency. The total amount of deficit remains unchanged, at HUF 892.4bn.

(Ministry for National Economy)