Hungary farm sector to receive over HUF 4,200 bn in development funding until 2027

The Hungarian government, through the European Union's common agricultural policy (CAP), will spend 4,265 billion forints (EUR 11.8bn) on the development of Hungary's rural areas, its agriculture and food industry until 2027, Agriculture Minister Istvan Nagy said on Monday. The government has decided to raise government co-financing to EU funds to 80 percent from 2021, tripling it from the 17.5 percent of previous years, to achieve such "historic amounts of funding", Nagy said.