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The Budapest Assembly accepted the municipality’s 2022 budget on Wednesday, forecasting just over 297 billion forints (EUR 809 million) in budget revenues and just below 411 billion forints in expenditures.

The assembly voted with 18 votes in favour and 11 against the proposal.

The municipality allocated 6.1 billion forints for loan repayments.

According to the budget, the municipality’s deficit next year will stand at just over 119.7 billion forints. The deficit will be funded from loans, bonds and revenues from deposits, the decree said.

Budapest Budget Deficit Expected at HUF 50 billion

The Budapest municipality’s 2022 budget is 50 billion forints (EUR 136 million) in the red, and it could only be offset by government funding or loans, the leader of the opposition Socialist party’s chapter in the city assembly said on Wednesday.

Csaba Horváth accused the government of “creating a situation where the municipality is forced to plan a budget with a 50 billion forint hole.”

The city will remain operational only over the next six months unless the deficit is funded, he said.

Horváth said the city was “left with overdue development projects worth some 1,000 billion forints from the past 12 years”, which warrants a new agreement with the government to restore balance to the city’s finances, he said.

Police Suspect Embezzlement in Case Involving House Speaker's Chief of Staff
Police Suspect Embezzlement in Case Involving House Speaker's Chief of Staff

The case is centered around the HUF 240 million (EUR 651,000) villa in Budapest's 2nd district, which was bought by the Foundation for Hungarian Talents without Borders, officially established to support Hungarians abroad.Continue reading

Horváth also called on the government to take over one-third of the funding of Budapest’s public transport.

featured image via Zsolt Szigetváry/MTI


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