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Budapest mayor convenes extraordinary council session over BKV

The Budapest Public Transport Company (BKV) can only refinance a HUF 45bn loan repayment due in the first quarter if its operating financing is stabilised, Budapest mayor Istvan Tarlos told MTI on Friday.

Mr Tarlos said that if the central government would free up HUF 32bn in passenger-based funding, the city would freeze 15% of the allocation for its institutions and use that HUF 6bn for BKV. It would also provide it with HUF 4bn in financial support and a HUF 9bn owners loan, and it could halt all non-essential activities and even raise tariffs, he added.

The city council will hold an extraordinary session on Wednesday to discuss BKV’s critical situation, he said.