The government paid a total of 2,488 billion forints (EUR 8.04bn) to the winners of EU-financed tenders last year and 900 billion of that amount has already been received from the Brussels coffers, Eszter Vitályos, state secretary in charge of EU-financed developments at the prime minister’s office, said in a statement.

The government has eased regulations on advance payments to ensure sufficient funding for as many projects as possible, she said.

This is putting a burden on the Hungarian budget because EU money is forthcoming when projects are under way, often years later, she said, adding that the Hungarian economy is now stable enough to withstand such pressure.

All tenders for the 2014-2020 financial cycle were announced by Dec. 31 and almost 85% of the funding has already been awarded, Vitályos said.

Republished with permission of Hungary Matters, MTI’s daily newsletter.