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State to take over HUF 3bn of local council debt

Interview

The state plans to take over more than HUF 3bn in yen-denominated loans taken out by seven local councils in Veszprém County (NW Hungary) to pay for environmental rehabilitation programs, Várpalota mayor Márta Talaber said at a press conference on Thursday.

A proposal on taking over the debt is expected to come before Parliament in two weeks and a decision could be in force from December 1, Talaber said.

Deputy Prime Minister Tibor Navracsics said the cabinet had approved the proposal to take over the foreign currency-denominated debt at a cabinet meeting on Wednesday, thanks to Talaber's lobbying.

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