Budapest assembly sets up fund to offset energy, economic crisis

The Budapest General Assembly amended this year’s budget to set up a fund to offset the fallout of the energy and economic crisis on Wednesday.

The funds will be used to fund increased costs of public lighting, utility costs of public buildings, public transport and for support to low-income citizens, as well as for paying interests.

The amendment was adopted with 18 votes in favour, 10 against and one abstention.

ccording to the amendment proposal’s justification, the municipal council’s expenditures on interest payments have increased by 7.4 billion forints (EUR 18.2m) this year due to inflation.

Current procurements also indicate that the city council will have to calculate with a ten-fold increase in utility prices next year.

Public lighting will also cost the city 5 billion forints more this year than what was originally pencilled in.