• Home
• Channel: Current Affairs
• Bankruptcy Averted: Budapest Metropolitan Council's Credit Limit Raised by 20 Billion Forints

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.

Since the goal of XpatLoop is to keep readers well briefed, right across the spectrum of opinions, MTI items are shared to ensure readers are aware of all narratives within the local media.

XpatLoop believes in empowering readers to form their own views through complete and comprehensive coverage. To facilitate this XpatLoop has a balanced range of news partners, as you can see when you surf around XpatLoop.com

*********************************

You're very welcome to comment, discuss and enjoy more stories via our Facebook page: 

Facebook.com/XpatLoopNews + via XpatLoop’s groups: Budapest Expats / Expats Hungary

You can subscribe to our newsletter here: XpatLoop.com/Newsletters

Showcase Your Business to Expats in the Loop:

As an independent portal we’re grateful to all commercial supporters who help keep you in the loop with fresh insights and inspiration. Do you want your business to reach tens of thousands of potential high-value expat customers? If so please contact us here.

• How does this content make you feel?
• I love it
• I like it
• I dislike it

• Bank Credit Budapest Council

Explore More Reports

Hungary Vetoes EU Higher Education Strategy

• 28 Nov 2025 8:07 AM

Hungary has vetoed the European Union's four-year higher education strategy, Balazs Hanko, the minister of culture and innovation, said in Brussels on Thursday, adding that Hungary made clear that only once Hungarian students are restored their rightful access to the Erasmus programme will Hungary approve the higher education strategy.



Mayor Asks PM for Cooperation to Keep Budapest's Basic Public Services Functioning

• 26 Nov 2025 6:24 AM

Gergely Karácsony, the mayor of Budapest, on Tuesday said he has written a letter to the prime minister requesting the government's cooperation in the interest of keeping the capital functioning.



EC Still Shares Concerns that Triggered Article 7 Procedure Against Hungary, Says EU Commissioner

• 25 Nov 2025 7:20 AM

The European Commission continues to share many of the concerns expressed by the European Parliament in its 2018 reasoned proposal triggering the Article 7 procedure against Hungary, the European Commissioner for democracy, justice and the rule of law said in Strasbourg.



Orbán: Budapest Peace Summit on the Horizon

• 24 Nov 2025 7:07 AM

Hungary's prime minister has said that a Budapest peace summit was on the horizon and the next 2-3 weeks would now prove "decisive", now that the existence of the 28-point peace plan had been confirmed.