The City Council of Katowice passed the year 2015 budget on Wednesday. Significant amounts will be spent to finish City’s largest investments.
In 2015, the Katowice expenditures will reach PLN 1,731 billion, the total income will amount to PLN 1,550 billion. The remainder (PLN 181 million) will be funded with the Katowice’s high cash reserves (PLN 163,2 million) and loan from the Council of Europe Development Bank (PLN 17,6 million).
Amongst the most important and capital intensive investments will be the financing of construction works on the City Center redevelopment (PLN 54,6 million out of the total cost of PLN 189,7 million) and the International Convention Center (PLN 63,2 million out of the total cost of PLN 364,3 million).
Additionally, the City of Katowice wants to spend PLN 102,3 million for the improvement of public transport infrastructure and PLN 147,6 million for the development of roads. PLN 6 million will be spent for new roads in the cultural district. PLN 6,2 million was secured for the design documentation of four transport nodes.
The City will also support several cultural events: OFF Festival (PLN 2,2 million), Tauron Nowa Muzyka (PLN 0,84 million) and Rawa Blues (PLN 0,8 million) and „Kocham Katowice” (PLN 1,5 million).
Katowice’s direct debt amounts to PLN 683,3 million at present and may drop to PLN 677,5 million by the end of this year or a moderate 43% of current revenue.