Budapest mayor sees no problem with 2016 budget

Budapest, February 19 (MTI) – Budapest’s recently adopted budget for 2016 is realistic, the city having a surplus rather than a deficit in operating funds, Mayor István Tarlós told a press conference on Friday.

The budget plans for revenue of 228 billion forints (EUR 738m) and spending of 313 billion with a shortfall of 85 billion, Tarlós noted, but said that that shortfall “is actually not there”. He insisted that the city had 70 billion forints in reserves from last year, while the remaining 15 billion was available from a loan to finance infrastructure developments.

The municipal budget was adopted on Wednesday, with opposition parties sharply criticising the plan, dooming Budapest to “indebtedness and a hand-to-mouth existence” in 2016.

Photo: MTI

Source: http://mtva.hu/hu/hungary-matters