Published: December 14 2023
The Budapest municipal assembly has recently approved the city council's budget for the year 2024. The budget outlines the expected revenue and expenditures for the upcoming year.
Key Points of the 2024 Budget
- The approved budget targets revenue of HUF 437.7 billion (EUR 1.1 billion) and expenditures of HUF 442.6 billion.
- The deficit in the budget will be covered through bonds and revenues from bank deposits.
- Approximately HUF 6.94 billion is allocated towards the repayment of loans.
- The budget was adopted with 17 votes in favor, but the councillors from the ruling Fidesz-Christian Democrat alliance did not return to the assembly meeting due to a disciplinary hearing.
- The leader of the Fidesz group criticized the budget, calling it "a budget of incompetence" and stated that the city is caught up in debt without any notable development projects in the budget.
Concerns over the Budget
According to Zsolt Wintermantel, a member of the Fidesz group, Budapest's leadership has been spending the city's record revenues generated from taxes without investing in development projects. He expressed concerns that the city is not progressing but merely operating day by day.
It is important for the city to address these concerns and ensure that the budget is allocated efficiently to support the growth and development of Budapest.
Questions & Answers
What is the revenue target for Budapest's 2024 budget? The revenue target for Budapest's 2024 budget is 437.7 billion forints (EUR 1.1bn).
What is the estimated expenditure for Budapest's 2024 budget? The estimated expenditure for Budapest's 2024 budget is HUF 442.6 billion.
How will the deficit in the budget be covered? The deficit in the budget will be covered from bonds and revenues from bank deposits.
How much is allocated towards loan repayment in the budget? A total of HUF 6.94 billion is allocated towards the repayment of loans in the budget.
Why did the councillors of the ruling Fidesz-Christian Democrat alliance not return to the assembly meeting? The councillors of the ruling Fidesz-Christian Democrat alliance did not return to the assembly meeting after Budapest Mayor Gergely Karacsony called a recess over 1st district mayor Marta Naszalyi’s disciplinary hearing.
What did the group leader for ruling Fidesz say about Budapest's 2024 budget? The group leader for ruling Fidesz, Zsolt Wintermantel, said on Facebook that Budapest's 2024 budget was "a budget of incompetence". He criticized the city's debt, lack of development projects in the budget draft, and the depletion of reserves without any meaningful progress.
What is the expected revenue from business tax for next year? The city can calculate with a record 300 billion forint revenue in business tax for next year.
According to Zsolt Wintermantel, how has the Budapest leadership managed the city's funds? According to Zsolt Wintermantel, the Budapest leadership has spent all of the city's record revenues generated in taxes, exhausted the reserves, and failed to prioritize development projects. He criticized the lack of progress and described the city as operating from day to day.
