Govt decides on muni debt takeover exceptions

Hungary’s government has taken decisions on consolidating the debt of 14 small communities considered exceptional because of their high debt-to-resident ratios and stock of business loans, daily Magyar Nemzet said on Tuesday. The paper said the government decided to take over 100% of the debt of Szabadkigyós, Füzér, Fertőd, Besenyszög, Cserkeszőlő, Nagykörű, Újszilvás, Balatonfűzfő and Tótszerdahely. It will take over 60% of the debt of Aba, Bükkszék and Poroszló, 70% of the debt of Harkány, and 80% of the debt of Alsómocsolád. The government took over all of the debt of communities with fewer than 5,000 inhabitants – excluding the 14 exceptions – at the end of last year, repaying HUF 76 billion.

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