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Budapest City Council approves draft bill on hosting Olympic Games

The Budapest City Council unanimously approved a draft of a bill that would prepare the way for Hungary to make a bid to host the Olympic Games in 2020.

The Council decided to mandate Mayor Gábor Demszky to submit the bill to Parliament, which is expected to reach a decision on it in 2009.

A study by PricewaterhouseCoopers (PwC) earlier showed the direct costs of hosting the games in Budapest in 2020 would come to HUF 518 billion, but the indirect costs would run up to HUF 5,344 billion by 2012 and require a further HUF 5,158 billion in spending by 2020. (MTI – Econews)