Bolzano budget allocates 6 million euros to cover Olympic Games deficit

The Bolzano provincial budget adjustment, totaling over 1 billion euros, has allocated 6 million euros to address a deficit in the Milan-Cortina Winter Olympics. The budget includes substantial funding for mobility, housing, agriculture, and debt reduction, with nearly 40% of the funds directed at paying down loans.

Provincial council president Harald Stauder described the budget as "surprisingly consistent" and highlighted Bolzano's privileged financial situation compared to other German and Austrian regions. He noted that the province has significantly reduced its debt by paying off loans taken out when interest rates were higher, freeing up resources for future projects.

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The Bolzano budget is surprisingly consistent.

However, the opposition has raised concerns about specific expenditures. Green party councilor Zeno Oberkofler criticized the allocation of provincial funds to cover the costs of the Cortina bob run and the Milan arena, arguing that these expenses should not be borne by the province's own budget. He pointed out that the province will contribute between 5 and 6 million euros to cover the deficit of the Milan-Cortina Foundation, which is estimated to be around 300 million euros.

Officials defended the spending, with council president Arno Kompatscher stating that the province has received half a billion euros from the state for infrastructure projects. The budget will be discussed in the provincial council later in July, with the opposition expected to scrutinize these Olympic-related costs.

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The Province of Bolzano, which was involved in the organization of the Winter Games, will have to pay between 5 and 6 million euros to cover the costs of the bob run.