The Hungarian government is reallocating HUF 8 billion. One of the biggest item of this is HUF 3 billion, which will be taken away from Budapest’s development. The money will be used to support “priority international sporting event strategies and sporting event bids, as well as priority domestic sporting events.”
Transfer of money
According to information published in napi.hu, HUF 8 billion (EUR 20.4 million) will be reallocated by the Hungarian government. The Hungarian Tourism Agency’s professional tasks will also be reduced by nearly HUF 4 billion (EUR 10.2 million).
Budapest will also lose HUF 3 billion (EUR 7.6 million).
The government will spend this money on the Tourism Development Objective within the Economic Restart Fund. The money taken from the capital will be spent on sporting events.
“To support the strategy and bidding for major international sporting events, as well as major domestic sporting events,”
writes the Hungarian Gazette. Organisations with foreign economic development objectives will also receive money. Funding for the capital, county government offices and district government offices will also be cut. This money is earmarked by the government for the National Office for Vocational and Adult Education.