The city of Prague increased its investment spending by 6.4 billion Czech korun (approximately USD 295 million) last year, compared to the previous year, bringing its total investment to 16.5 billion Czech korun (USD 761 million). The largest portion of the investment budget was allocated to transportation projects. Specifically, over 9 billion Czech korun (USD 416 million) was invested in infrastructure, transportation projects, and improving the quality of life for citizens.
The city’s tram service was expanded and the modernization of bus lines was also addressed. Work on the construction of the D metro line has begun, and other transportation infrastructure projects, such as the reconstruction of the Barrandov Bridge and the construction of the Stvanice footbridge, were completed. Additionally, the city has improved public transportation shelters and repaired the lower portion of Wenceslas Square.
Despite global crises over the past several years, Prague has set a record investment pace and increased investments by nearly 70%. This is a remarkable achievement given that the city had a few projects in progress four years ago.
According to Zdenek Kovarik, the city’s councilor for finance, the city was able to invest in important projects that contributed to the development of the city and the improvement of the lives of its citizens. In particular, the city invested heavily in transportation infrastructure projects, such as the Metro D, the Barrandov Bridge reconstruction, and the construction of the Stvanice footbridge.
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 Czech korun (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.