At its meeting on Wednesday, the Government decided to provide two new pre-financing systems for businesses and municipalities so that payment of EU funds will be accelerated. In order to finance projects receiving EU funds, a 30 per cent deposit will be given to businesses; in addition, a HUF 50 billion fund will be created for down payments needed by local governments in order to apply for EU grants.

These measures aim to make use of EU funds faster and more efficiently. As a result, Hungary will be the most efficient Member State as regards the drawdown of EU funds. These decisions will help the economic growth that will spur employment, stimulate job creation and safeguard existing jobs. The net effect will encourage the continued growth of employment, which has already resulted in 80,000 new jobs.

(kormany.hu)