Budapest to request permission for EIB development loan
Budapest Mayor Gergely Karácsony yesterday said the municipal council will ask the government again for permission to take out a development loan from the European Investment Bank (EIB), according to mfor.hu.
Karácsony said at a press conference that the EIB loan, which the central government must approve, could be used to buy 50 new trolley buses and 50 trams.
He added that if the government blocks the preferential loan, it would be interpreted as a "declaration of war on the citizens of Budapest."
He called central government promises to take over the financing of a number of big projects in the capital "frivolous." Deputy Mayor Kata Tuttő said Budapest gets "not a single forint" of revenue from personal income tax, VAT or excise tax. "We donʼt want government money, we want the tax revenues that weʼve paid here," she added.
Hungary Gasoline Prices 3% Over Regional Avg
Hungary to Address Future of Cohesion Policy During EU Presi...
120,000 Guest Workers Employed in Hungary
Budapest Airport Wins 'Best Airport in Eastern Europe' for 1...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
