The efficient and transparent absorption of EU development funds has been and continues to be instrumental in maintaining the growth momentum of the Hungarian economy seen in recent years, Minister for National Economy Mihály Varga said, at the 25th conference of the audit authorities of EU member states, the European Commission and the European Court of Auditors in Budapest.
The performance-oriented, efficient and rewarding utilization of EU funds guarantees that favourable economic effects achieved hitherto will persist, the Minister stressed. The number one objective of Homologues sessions is to facilitate dialogue between member states and improve the coordination of national audits.
It is of great help that EU funds of HUF 12 000bn (EUR 38.7bn) have been made available for Hungary in the period 2014-2020, Mihály Varga stressed. This amount, he added, is to be spent on maintaining economic growth, improving competitiveness and employment. To this end, ten comprehensive, region-specific development programmes have been launched.
The objectives of the the EU’s cohesion policy – aiming to forge closer economic and social ties within the EU and helping disadvantaged regions to close the economic gap – are also crucial for Hungary, the Minister stated, adding that it is one of the country’s main priorities to boost economic and social convergence. Achievements in this field strengthen competitiveness within the entire EU, he concluded.
(Ministry for National Economy)
