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Local council budgets slightly bigger in real terms next

Hungary's cities and towns will have a combined budget of Ft 2,900 billion next year, slightly more in real terms than last year, Finance Minister János Veres announced on Friday. Half of local councils' 2006 budgets will come from the central budget, he said. Veres noted that Hungary will have 67% more EU funding available to it next year than this year, money local councils can use to make significant developments. About Ft 300 billion in development funding will be available to local councils next year, including Ft 98 billion in EU funding, Ft 95 billion in co-financing and Ft 106 billion in targeted funding.