Thousands of billions in EU funding for Hungary
The European Commission has adopted Hungary's Strategic Agricultural Policy Plan, which will receive €270 billion in funding for the period 2023-2027.
€8.4 billion (nearly HUF 3.4 trillion) will be available from the EU budget to implement the strategy plan. Of this amount, €2 billion will be spent on climate and environmental objectives and agro-ecological programs, and €186 million will be spent on support for young farmers, the European Commission said.
The Hungarian strategic plan includes a number of interventions to ensure a fair income for farmers and a fairer distribution of financial support between them.
The measures in the plan will also make it easier for 8,800 young farmers to start their own business. One of the priorities of the plan is to modernize 7,700 farms.
Hungary also commits in the plan to allocate 38 percent of its rural development budget to agri-environmental interventions, 8 percent to the further development of organic farming and around 5 percent to the protection of 162,631 hectares of Natura 2000 sites.
Together, these programs will contribute to sustainable nutrient management and to reducing fertilizer inputs and ammonia emissions. Hungary also aims to double the area under organic farming by 2027.
The new Common Agricultural Policy, which will start on January 1, 2023, seeks to promote the transition to a sustainable, resilient and modern agricultural sector.