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EU Co-Funded Projects Speeded Up in Hungary

EU Co-Funded Projects Speeded Up in Hungary

Last year brought about a turning point in terms of investments: after 5 years of recession, this trend reversed in Spring and is likely to continue this year.

According to the Hungarian Central Statistical Office (KSH), the volume of investments increased by 7.2% compared with 2012, but keep in mind the country was mired in a deep recession back then. The majority of this increase comes from infrastructure investment projects co-funded by the EU.

With the 7 year budget period coming to an end, Hungarian public administration used all the available subsidies as fast as possible: investments increased by 50.8% in quarter 4 of 2013 in public administration.

However the private sector saw a significant decrease (4.9%, HUF 275 billion) in the same period.

The highest growth rate in 2013 was measured in the water supply, sewerage and waste management section (60.8%) followed by public administration (38.0%).

Overall, the volume of investment is estimated to grow by 6.5-7% in 2014, says Gergely Suppan, analyst of Takarékbank.

Translated and summarised by Magdolna Magonyi

Photo: www.ce-os.eu

Source: http://nol.hu/gazdasag/20140301-felgyorsultak_a_beruhazasok

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