EU Draft Budget Cuts Funding For Hungary By 20%
- 30 May 2018 8:45 AM
- Hungary Matters
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.
XpatLoop Media Partner
LATEST NEWS IN finance