Nearly 1,000 EU-financed development projects delayed

Budapest, November 4 (MTI) – A total of 962 development projects co-financed by the European Union are currently delayed, business daily Vilaggazdasag said on Wednesday.

Citing cabinet office information, the paper said that at the end of the third quarter the state sector and local councils were 150 billion forints (EUR 480m) behind schedule in taking up EU monies.

The Klebelsberg centre, the state body responsible for Hungary’s schools, had more than 80 projects behind schedule and the National Infrastructure Development company had 50 delayed projects. Budapest Transport Centre (BKK) projects were also significantly behind schedule, the paper said.

Unless major progress is made to catch up, more than 800 billion forints worth of EU monies tied up in contracts could be at stake, given that there are only a few weeks left before the deadline for submitting invoices for the 2007-2013 budgetary period.

Source: http://mtva.hu/hu/hungary-matters