Budapest bridge renovation to go ahead despite budget fiasco

The cabinet of Budapest mayor Gábor Demszky agreed that the renovation of Margaret Bridge cannot be postponed any longer, despite the fact that the lowest bid received was Ft 22 billion, rather than the Ft 14.8 billion maximum earmarked for the project.

The city must now come up with an additional Ft 17.1 billion. To raise the cash, construction of the connecting road to the M5 motorway will be postponed, saving Ft 1.7 billion.

Some Ft 2 billion will be saved on cycle path projects, and Budapest expects EU subsidies will cover that amount.

All other bridge renovations in the coming two years will be postponed. The City Council still has to approve this proposal, however.

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