Budapest Council adopts 2015 budget

Telco

The municipal council of Budapest yesterday approved the city's budget for 2015 with 20 votes for, nine against and one abstention, news agency MTI reported.

The approved budget targets spending of HUF 323.9 bln as opposed to revenues of HUF 244.9 bln. According to the budget, the deficit of nearly HUF 80 bln will be financed from leftover loans (HUF 12.1 bln), domestically issued bonds (HUF 24 bln), deposit withdrawals (HUF 38.4 bln) and from funds remaining from previous years (HUF 4.6 bln).

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