Government Plans Restructuring of Hungarian Film Financing System

By FNE Staff

    The Hungarian government plans to restructure film funding in its 2011 budget, according to local news reports. Film financing, which is currently handled by the Hungarian Motion Picture Foundation (MMK, www.mmk.hu) is expected to move to the Ministry of the Economy.

    The MMK funding, which has already been reduced from five billion HUF (18 million euro) to one billion HUF in 2011, will then be phased out completely in 2011.

    Hungarian filmmakers have been seriously hampered in their film production plans in 2010, with a cutback of some one billion HUF in funding that was promised for this year. For 2011, the government has allocated 3.2 billion HUF for film funding, and it is expected that the one million HUF that was frozen in 2010 will be released next year.

    MMK organizes the Hungarian Film Week and handles film distribution and national film awards in addition to awarding grants for film production