Daily News | Mar 25, 2019 | 0
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