The leaders of Hungary and Poland fought hard for the best interests of their people and their respective economies, while negotiating with the European Union and also while taking on the EU’s bureaucrats. Their tenacity and perseverance was nothing less than commendable and received the deserved respect of the European Union officials, as well as their respective citizens back home.
This ground breaking deal that was reached by all the EU member states comprise of €1.1 trillion, 7 year budget and €750 billion recovery package deal, over the period 2021 – 2027.
Hungary and Poland will be one of the EU’s biggest budget beneficiaries which will certainly assist both Nations to continue on their expected robust economic recovery and sustainable growth.
Poland will receive 173 billion euros of these funds.
Hungary’s share of this funding from the multi-annual budget and the recovery package will amount to about 40.7 billion euros, and furthermore will be entitled to an additional 10 billion euro loan; with these two contributions amounting to 2.8 percent of the country’s GDP.
In addition, Hungary will continue to receive cohesion funds amounting to 1.8 % of its GDP over the following 7 years.