Kosice City Council Okays Next Year's Budget and Also Greenlights New Loans

Kosice, 13 November (TASR) - The city of Kosice should manage a budget of €437.45 million next year, which is over €113 million more than this year, according to the city budget approved by the city council on Thursday, with the councillors also approving new loans. Kosice mayor Jaroslav Polacek stated that this is the city's highest budget ever. While current expenditures haven't changed notably compared to last year, investments are significant, he said. "If we look at 2025, they were around €60 million. In 2026, it will be more than €160 million," he said, adding that several of them are already underway, some will be completed, and others will be launched. He considers the modernisation of tram lines in the Above the Lake borough to be the largest investment. "Compared to last year, we've managed to increase the amount allocated for sidewalk repairs. We'll be addressing the issue of a new retirement home," he said, adding that more money has also been earmarked for the city police. The councillors also approved a loan from the European Investment Bank (EIB) of up to €20 million to finance projects supported by a grant under the 'Public Sector Loan Facility' scheme. The city council also greenlighted a loan of up to €20 million from the EIB for the Kosice Transport Company. They also okayed a €10-million loan from the Environmental Fund to modernise public lighting and a €15 million loan to be drawn gradually to co-finance capital expenditures from EU funds and other investments. Warned by some councillors about the need to repay a large number of loans, Polacek responded by saying that the city wouldn't have been granted loans if it had been unable to repay them. am