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Feb 27, 2020

Budapest Assembly adopts the municipality’s 2020 budget

Revenue is set at just over HUF 284 billion (EUR 839m) while spending is a little above HUF 408 billion.

The Budapest Assembly has adopted the municipality’s 2020 budget. The budget passed with 18 votes in favor, 14 against and 1 abstention.

According to MTI, revenue is set at just over HUF 284 billion (EUR 839m) while spending is a little above HUF 408 billion. The deficit of just below HUF 125 billion will be financed through a mix of credit agreements, domestic bonds and revenue from bank deposits.

Budapest Mayor Gergely Karácsony said the budget was founded on the platform of a “green and free Budapest”. He added that the budget focuses on the Budapest resident, adding that it was the budget of a prospering, social, green and climate conscious city.