euro money european union

The European Commission paid out a total 4.4 billion euros (over 1,400 billion forints) in development subsidies to Hungary in the course of 2018, Tamás Schanda, state secretary at the innovation and technology ministry, told a press conference on Monday.

Schanda added that the grand total puts Hungary ahead of all countries in the central European region.

He also said that Hungary has now drawn 31 percent of all its subsidies for the 2014-2020 period (9,000 billion forints), “far above” the EU average of 27 percent.

Fully 65 percent of the 9,000 billion forint total has been paid out to winning bidders, the state secretary said, and added that all projects were being implemented “fast and to a high standard”.

Source: MTI

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