Budapest Muni Council Approves 2023 Budget

City

The municipal council of Budapest on Wednesday approved the capital's budget for next year, according to a report by state news wire MTI.

The budget was cleared with a vote of 17 for, eleven against, and two abstentions.

The budget targets revenue of HUF 407.8 billion and expenditures of HUF 465.3 bln, resulting in a deficit of about HUF 57.6 bln.

The approved proposal noted the 58% increase in the "solidarity contribution" on local business tax revenue to the central government as well as high energy, food, and commodities prices, the consequences of monetary policy, and the pressure of inflation on wage costs as "fundamental problems".

The city does not plan to shut down institutions used by the public, including cultural spaces such as theaters, as the resulting savings would be "minimal" in the context of the full energy mix.

No investments will be launched in 2023, and ones planned earlier that can be postponed, such as the creation of a park next to City Hall, will be pushed back to 2024, Deputy Mayor Ambrus Kiss said.

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