Draft budget 2024 tabled in Parliament for discussion in budget and finance committee

The 2024 draft state budget and the budgets of the health fund and the public insurance are discussed by the MPs of the Parliament’s budget and finance committee on November 28.

Almost 40% of the country's gross domestic product is distributed through the national budget.

The expenditure set in the draft budget package for 2024 is 6.2 billion BGN more than the revenue. The shortfall will be financed by borrowing, with the maximum amount of debt the country can take on being up to BGN 10 billion.

The budget was prepared with a forecast of 4.8% average annual inflation and 3.2% economic growth.

It is too early to say whether the government's proposed budget laws will get support in the plenary chamber. The draft budget package is expected to be approved at first reading to allow for proposed changes and adjustments to the budget plan before the second reading and final vote.

Once passed in committee, the budget is expected to enter plenary for a first reading on Thursday.