NY comptroller warns local governments of 'fiscal cliff'

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According to the director of the Mayor's Office, the mandatory transfer of part of their resources to the Hungarian Economic and Financial Institutions (MÁK) would further undermine the independence of local governments. The Ministry of Economy has meanwhile revealed further details about the plan.

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NY comptroller warns local governments of 'fiscal cliff'

The changing fiscal landscape could hinder local governments’ budgets, New York State Comptroller Thomas P. DiNapoli warns in his recent report.