Michalovce City Pays Down Millions in Debt While Recording Budget Surplus

The eastern Slovak city of Michalovce has managed to reduce its debt by millions of euros while simultaneously achieving a budget surplus, according to municipal financial reports. However, the city's financial controller has warned that municipal expenditures are continuing to rise, raising concerns about future fiscal sustainability. Michalovce, located in the Košice region near the Ukrainian border, is one of Slovakia's larger regional centers with approximately 40,000 residents.