Parliament Passes 2024 State Budget Bill Amid Mixed Votes

In a session held on Monday, Parliament advanced the 2024 State Budget Bill at its first reading, marking a significant legislative step forward. The bill received 144 votes in favor, 66 against, and no abstentions.

Support for the budget bill came from GERB-SDS, We Continue the Change-Democratic Bulgaria, and the Movement for Rights and Freedoms. However, Vazrazhdane, BSP for Bulgaria, and There Is Such People opposed the bill.

Notably, Parliament previously dismissed the draft budget that included the judiciary budget suggested by the Supreme Judicial Council.

The second reading of the bill is scheduled in four days, a shorter timeline than the usual seven. During this time, further deliberations will take place to address additional changes and proposals.

Outlined within the bill are crucial macroeconomic indicators for 2024 - 2026, featuring an expected acceleration of GDP growth to 3.2% in 2024. The anticipated average annual inflation rates are set to decrease to 4.8% in 2024, 2.8% in 2025, and 2.2% in 2026.

Under the Consolidated Fiscal Programme, the budget balance is projected to maintain a deficit of 3% of GDP annually throughout the period.

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