Hungary’s budget reserves of HUF 2.5 bln put towards Olympic bid

Parliament

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The government of Hungary has reallocated HUF 2.5 billion of its budget reserves for “extraordinary government measures” for Budapest’s bid to host the 2024 Olympic Games, Hungarian news agency MTI has reported, citing a resolution published in the official government gazette Magyar Közlöny.

Budapest is competing with Los Angeles, Paris, and Rome to host the Games (Hamburg was also selected to bid, but withdrew following a public referendum in November 2015); Hungary received positive feedback on its initial bid from the executive board of the International Olympic Committee (IOC) in early June. 

The candidate cities are due to submit the next round of paperwork in the bid process in October, and the IOC will make a final decision regarding the venue of the 2024 Games in September 2017, according to MTI.

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