Citing “serious concerns” over Hungary’s project selection process between 2007 and 2014, the EU has suspended $2.5bn worth of development support payments, government officials said this week. The money would have gone toward economic and business infrastructure development. According to the Wall Street Journal, Hungary received $25.44bn from the EU’s 2007-2013 budget, which helped drive economic growth and fund state projects. The country’s economy grew by 3.6 percent in 2014, exceeding market expectations. Government officials are calling the latest suspension in EU funds “temporary” and are already talking with the European Commission about how to restructure the country’s public procurement system, including the tender process, the paper writes. “We are ready to reform the complete public procurement regime,” said Nandor Csepreghy, deputy state secretary in charge of economic development communication. EU officials have not commented on the situation.
