Lázár: Government has decided on financing for BKV for the coming years

Deals

The government has decided that the Budapest Public Transport Company (BKV) will receive HUF 40 bln in financing from the state in 2016, HUF 37 bln in 2017 and HUF 33 bln in 2018, cabinet chief János Lázár said at a weekly press conference yesterday.

Lázár confirmed that the government was taking over HUF 52.3 bln of BKVʼs debt, after an amendment to the 2015 budget earlier in June made the necessary funds available.

The government will act as a guarantor for a euro loan worth the equivalent of HUF 60 bln that the Budapest local council is taking out for the renovation of trains on the cityʼs M3 underground line, Lázár added.

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