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Bankruptcy Averted: Budapest Metropolitan Council's Credit Limit Raised by 20 Billion Forints

• 17 Jul 2025 8:06 AM

Hungary’s OTP Bank has agreed to modifying its contract with the Budapest metropolitan council by raising the city's current account credit limit by 20 billion forints (EUR 49.9m), the Mayor’s Office said.

Under the modified agreement, the city administration will make use of 80 billion forints in the current account between Aug 1 and Sept 19, the statement said.

After Sept 19, the city will have access to the originally agreed 40 billion forints in credit, they added.

The new credit limit will ensure the operation of the city’s public services until the end of the summer, the statement said.

 

Source: MTI – Hungary’s national news agency since 1881. While MTI articles are usually factual, some may contain political bias, and readers should be aware that such content does not reflect the position of XpatLoop, which is neutral and independent.

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