Another HUF 170 billion in EU Funding Received by Hungary

  • 3 Jan 2024 8:07 AM
  • Hungary Matters
Another HUF 170 billion in EU Funding Received by Hungary
Hungary has received another 170 billion forints (EUR 445m) in European Union funding, Finance Minister Mihály Varga said on Facebook on Tuesday.

This latest transfer and the 779.5 million euros in recovery funding received last week bring the total funding received by Hungary in recent days to 470 billion forints, Varga said.

The minister said 240 million euros of the funds will go toward Integrated Transport Operational Programme Plus developments, while 205 million is being allocated towards the Economic Development and Innovation Operational Programme Plus.

Finance Minister Hails Lower Deficit

Hungary’s public finance deficit narrowed in 2023 from 2022, Finance Minister Mihály Varga said on Tuesday, after receiving the first aggregates of budget data from last year.

Varga also hailed that revenues in corporate tax totalled 1,013 billion forints (EUR 2.6bn), over the target, which he said was “another sign of favourable changes in economic trends”.

State debt relative to GDP continued to decline, Varga said, adding that data from the Central Statistical Office were to be received to determine the final figure.

“In 2024, we will continue to reduce the deficit and state debt with the start of stronger economic growth,” he said.

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