Central govt repays HUF 76 bln of muni debt in 2012

Telco

Hungary's central government repaid HUF 76 billion of the municipal debt of communities with fewer than 5,000 inhabitants last year, well under the HUF 96 billion allocated for the purpose, a fresh report on general government expenditures by the National Economy Ministry published Tuesday shows.
Hungary's central government announced in October that it would take over the debt of local councils in communities with fewer than 5,000 residents by the end of 2012 and 40%-70% of the debt of bigger cities and towns in 2013.
An amendment to the 2012 budget act allocated HUF 96 billion for the debt takeover among communities with fewer than 5,000 inhabitants, and the cashflow-based deficit target for the full year was raised from HUF 576.2 billion to HUF 671.9 billion.

ADVERTISEMENT

GKI raises 2022 GDP growth forecast  Analysis

GKI raises 2022 GDP growth forecast 

Lawmakers postpone expanded data provision for tourism secto... Parliament

Lawmakers postpone expanded data provision for tourism secto...

Dóra Petrányi to co-head CMS Tech, Media, and Comms Group Appointments

Dóra Petrányi to co-head CMS Tech, Media, and Comms Group

Budapest Mayor Karácsony signs Global Declaration for Democr... City

Budapest Mayor Karácsony signs Global Declaration for Democr...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.