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Palkovics 'Reassured' solution on cohesion funding in sight

Cohesion policy is important for every European Union member state and remarks suggesting the European Commission is willing to find a compromise concerning the extent of cohesion funding reductions and how these cuts are implemented are reassuring, Hungary’s minister of innovation and technology said after meeting Günther Oettinger, the European commissioner for budget and human resources. At a joint press
conference held with minister László Palkovics on the sidelines of a conference organised by “Friends of Cohesion” countries,
the commissioner said all member states “must understand that Brexit will result in fewer EU resources and also less money available for
cohesion”. Oettinger said member states must accept a drop in EU financial resources of 80 billion euros in the next budgetary period, but the EU wants to carry this out in the least “harmful” way by mitigating differences in development levels between individual EU states, taking into
account differences in GDP per capita.