Hungary to receive billions of euros from the EU soon

Fully HUF 14,000 billion will be allocated to regional development between 2021 and 2027, Regional Development Minister Tibor Navracsics told an event on Thursday, adding that the money will go towards boosting competitiveness, the green and digital transition, and making Hungary one of the five most livable EU member states by 2030.

Hungary will receive the EU funds as planned, he told the Joint Venture Association event in central-western Hungary: EUR 1.5 billion in 2023, EUR 2 billion in 2024 and EUR 2.8 billion in 2025.

Navracsics said the time was up for regional development policy to be dictated from Budapest. Whereas disparities between rural regions are narrowing, this is not happening in a uniform way and some gaps are growing, he added.

In per-capital GDP terms, Budapest is way above the development of other regions, he said, adding however that Budapest must nevertheless compete with Prague, Bratislava and Vienna.

Whereas the development level of the region to the west of the Danube River is high by Hungarian standards, it is flat-lining in comparison with the EU, the minister said.

The Borsod region in the east of the country is significantly behind, Navracsics noted. Such areas that need to catch up will get two-thirds of the EU funds, while north-western parts must be helped to maintain their position, he added.

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