March 5th, 2010

Budapest municipal budget records unexpected surplus in 2009

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The city of Budapest recorded a preliminary budget surplus of HUF 23bn (EUR 86.33m) in 2009, compared to an expected deficit of HUF 18.3bn, the business daily Napi Gazdasag reported on Thursday.

The newspaper attributed the municipal budget’s unanticipated surplus to a delay in investments, noting that the city of Budapest spent HUF 423.1bn in 2009, according to the preliminary data, compared to projected expenditures of HUF 531.8bn.

The city generated revenue of HUF 446.1bn in 2009, compared to expected revenue of HUF 484.8bn.

Budapest derived HUF 197bn in revenue from the city’s local-business tax last year, up HUF 1.2bn from the projected HUF 195.8bn.

The city of Budapest projects a municipal budget-deficit HUF 47.4bn in 2010, after planned revenues of HUF 491.5bn and expenditures of HUF 538.8bn. The budget is based on a projected 1pc GDP growth in Budapest this year.

Budapest’s year-end 2009 stock of debt stood at HUF 161.5bn, the majority of which the city owed to the European Investment Bank.

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  1. Rolrox says:
    March 5, 2010 at 3:10 pm

    How can there be all this extra money and yet, Bp
    cannot help out BKV?