In comparison to the previous year, the city of Prague boosted its investment spending by 6.4 billion CZK (about USD 295 million), bringing its total investment to 16.5 billion CZK (USD 761 million).
Transportation projects received the lion’s share of the investment budget. Over 9 billion CZK (USD 416 million) will be invested in infrastructure, transportation projects, and increasing inhabitants’ quality of life.
The city’s tram service was increased, and bus lines were modernized as well. Work on the construction of the D metro line has begun, while other transportation infrastructure projects, such as the renovation of the Barrandov Bridge and the construction of the Stvanice footbridge, have been completed.
According to Zdenek Kovarik, the city’s financial councilor, the city was able to invest in significant initiatives that contributed to the city’s development and the improvement of the lives of its citizens.
However, the extent of the city’s planned investments exceeds its annual investment spending budget, so there will be difficult negotiations over investment priorities in the future.
In 2022, the city spent 1.1 billion CZK (USD 50.8 million) on purchasing land and renewing public lighting and urban furniture. These investments should quickly pay for themselves and help save money in the long term.
The city’s commitment to investment in public transportation infrastructure is commendable, given the positive impact it has on citizens’ quality of life and the environment.
Improving public transportation infrastructure can reduce the number of cars on the road, which can alleviate traffic congestion and improve air quality.