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Budapest council approves 2013 budget figures

Budapest municipal council representatives on Tuesday approved the capital's main 2013 budget figures showing expenditures of HUF 324.3 billion and a deficit of HUF 64 bln. The city will finance HUF 41.4 bln of the deficit from residual monies. It will borrow another HUF 30.2 bln to refinance long-term development loans, but use HUF 7.5 bln to pay back principal on existing loans. The budged was approved with a vote of 18 ayes, by members of governing Fidesz-KDNP and 16 nays by opposition representatives.