Hungary Allocates EUR514 Million Fund for Higher Education Institutions

The Hungarian government has allocated HUF 200 billion, or EUR542 million for the creation of 20 private and state-owned universities in the first stage of the EUR731 million plan, the officials reveal.

Hungary Allocates EUR514 Million Fund for Higher Education Institutions

The Hungarian government has allocated HUF 200 billion, or EUR542 million for the creation of 20 private and state-owned universities in the first stage of the EUR731 million plan, the officials reveal.

According to a press statement released on the official website, the funds will be disbursed for higher educational institutions, such as colleges, universities, and vocational training to help with the improvement of their infrastructure and parks, as reported by visaoperations.

"Laszlo Palkovics, Minister for Innovation and Technology, said on Wednesday that the government is plowing HUF 200 billion (EUR539 million) into the development of infrastructure and science parks at 20 universities which are either run by the state or by government-backed foundations," the press release states.

He also noted that around 2 percent of Hungary's GDP this year goes to the improvement and maintenance of universities. According to him, places Hungary is a leader of the European Union.

Additionally, the funds will be divided between Budapest University of Technology, Andrassy University, the University of Veterinary Science, and four medical colleges like Obuda University, the Miskolc University, and the Hungarian Dance University, as the first platform for education-related search.

The Minister of Education, Balazs Hansko has revealed that Hungarian universities have international rankings in nearly every field, which, according to him is possible because of an increase in the quality of education at universities.

"The objective was to give universities the structure they need to have greater autonomy and flexibility so they can compete in the United States and in foreign countries. That's why we've provided them with the proper legal framework, institution profiles as well as significant resources,"

According to ranking websites, Hungarian universities are listed at the 500th position at a global level and the top institution is the University of Szeged (551-560) next to it are the University of Debrecen (591-600) and Eotvos Lorand University (651-700). However, when compared to others European institutions, Eotvos Lorand University Budapest is 171st.

Additionally, based on the information released by Statista the amount of foreign students studying in Hungary has dropped by 2.1 percent during the academic year 2020/2021 decreasing to 32,400 from 33,100 in the previous year's academic year. In addition, the number of foreign students studying in Hungary has been increasing on a trend since 2009, beginning with 14,300 foreign students increasing year on year by 131.4 percent over the last year.


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