National Council for Tripartite Cooperation did not back 2024 state budget bill

After a record 6-hour meeting of the National Council for Tripartite Cooperation on November 21, the social partners did not support the 2024 state budget bill.

The motive of CITUB and "Podkrepa" trade union was that there were no funds for a 5% wage increase and for unemployment compensation, and the motive of the employers was that the growth was inflated and money was being handed out without economic justification.

Finance Minister Assen Vassilev said the aim was to have the budget finally adopted by 22 December. In his words, the parameters foresee joining the eurozone on 1 January 2025, a permanent increase in pensions by 11%, over a billion BGN more for health and more spending on education. The capital programme is kept at just under 10 billion BGN, Vassilev added.