EU Draft Budget Cuts Funding For Hungary By 20%

  • 30 May 2018 8:45 AM
  • Hungary Matters
EU Draft Budget Cuts Funding For Hungary By 20%
The European Commission has proposed to allocate cohesion funds of 17.9 billion euros for Hungary at 2018 prices in its draft EU budget for 2021-2027, about 20% less than in the previous budgetary period, according to the draft published in Brussels on Tuesday.

The draft budget needs approval from the European Council and the European Parliament.

Under the commission’s proposal presented in early May, the European Union’s next seven-year budget would allow for commitments worth a combined 1,135 billion euros in 2018 prices.

Fully 373 billion euros of the total is planned to be spent on narrowing the gaps between and within member states, which is less than the amount allocated for cohesion policy in the 2014-2020 period.
 

  • How does this content make you feel?

XpatLoop Media Partner

Hungary Matters

Launched in January 2014, this twice-daily newsletter covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI. Click the title above for more info, and to subscribe.

Explore More Reports

  • Hungarian Parliament Amends Advertisement Tax Law

    Hungarian Parliament Amends Advertisement Tax Law

    • 17 May 2017 8:00 AM

    Parliament on Tuesday passed a law amendment setting the rate of advertisement tax at 7.5 percent from the second half of 2017. The levy will apply to companies with revenue exceeding a net amount of 100 million forints (EUR 320,000) from July 1, 2017. The bill submitted by the economy minister was passed with 117 votes in favour and 58 against.