Published: December 09 2023
The Deputy Mayor of Budapest has highlighted the financial challenges facing the city and emphasized the need for restructuring. This comes after a period of irresponsible management and the depletion of reserves.
Budapest's Financial Situation
According to Deputy Mayor Láng, when Mayor Karácsony took office in 2019, Budapest had reserves of 214 billion forints (EUR 560m). However, the current balance of payments shows a deficit of 5.4 billion forints, indicating a state of bankruptcy. Láng blames the city leaders for mismanagement and wasteful spending.
The Budget of Restructuring
Deputy Mayor Ambrus Kiss has referred to the 2024 budget of Budapest as the "budget of restructuring". This suggests that the city is facing multiple crises, including the coronavirus pandemic, the energy crisis, and the impact of inflation.
Addressing the Challenges
With the recognition of the financial challenges and the need for restructuring, Budapest's city leaders will likely need to implement measures to address these issues. It remains to be seen how the city will navigate through this difficult period and restore its financial stability.
Questions & Answers
What is the current financial situation of Budapest? According to Deputy Mayor Láng, the balance of payments for Budapest shows a deficit of 5.4 billion forints, which he referred to as bankruptcy. He criticized the city leaders for irresponsible management and squandering money.
How much were the reserves in Budapest when Mayor Karácsony took over in 2019? When Budapest Mayor Gergely Karácsony took over from his predecessor István Tarlós in 2019, the reserves in Budapest totaled 214 billion forints or approximately 560 million euros.
What did Deputy Mayor Kiss refer to the 2024 Budapest budget as? Deputy Mayor Ambrus Kiss referred to the 2024 budget of Budapest as the "budget of restructuring."
What are the series of crises that Deputy Mayor Kiss mentioned in relation to Budapest? Deputy Mayor Kiss mentioned that the series of crises in Budapest started with the coronavirus pandemic, followed by the energy crisis and the crisis caused by inflation.
