At the Republikon Institute's local government conference, Gergely Karacsony noted that the city has received a 60-day extension from the state treasury to pay the central government's solidarity contribution, but this extension expires next week.

No decision to extend the deadline or find another solution to the issue is apparent based on current knowledge, he added.

He spoke of "brutal financial pressure" Budapest has faced in recent years, noting the city's companies and basic infrastructure were under mountains of debts. Even so, his administration had decided against reducing public services, he added.

Govt spox: Budapest payment deadline extended until Oct 15

Budapest's deadline to make its payments has been extended until Oct 15, government spokeswoman Eva Magyar told a weekly press briefing on Thursday.

Earlier, the capital had been given until mid-next week to pay 37 billion forints (EUR 104m) and another sum of 12 billion forints before mid-July, Magyar said, adding that the government had decided to ensure a moratorium until Oct 15.

"The goal is to find a lasting resolution to the financial problems of the capital; to that end, talks have started between the municipality and the government," she said, but added that "obligations under the law must be met."

MTI Stock Photo

Source: MTI – Hungary’s national news agency since 1881.

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