site.btaUPDATED Parliament Adopts 2024 State Budget Bill at First Reading

On Monday, Parliament adopted at first reading 2024 State Budget Bill with 144 votes in favour, 66 votes against and no abstentions.

The bill was supported by GERB-UDF, Continue the Change-Democratic Bulgaria and the Movement for Rights and Freedoms. Vazrazhdane, BSP for Bulgaria and There Is Such People voted against it.

Parliament had previously rejected the draft budget including the judiciary budget proposed by the Supreme Judicial Council.

The second reading of the bill will be in four days, instead of the usual seven, in which time additional changes and proposals will be discussed.

The main macroeconomic indicators set for 2024 - 2026 include an acceleration of GDP growth to 3.2% in 2024, as well as a decrease of average annual inflation forecasts to 4.8% in 2024, 2.8% in 2025 and 2.2% in 2026.

The budget balance under the Consolidated Fiscal Programme would be at a deficit of 3% of GDP for each year of the period.