Bulgaria's Parliament adopted Budget 2024

18:26, 21.12.2023
Bulgaria's Parliament adopted Budget 2024

Parliament voted to adopt Budget 2024 at second reading on December 21.

The chairman of the budget committee in the Parliament, Yordan Tsonev, called the budget historic and congratulated all MPs for their participation in the fruitful debate, as well as the Minister of Finance:

"Practically, this is the first budget for the whole transition that has 100 percent programme budgeting of the investment programme. The whole capital programme is designed so that it can be added to, it can be changed and it can be replaced. We strongly believe that this innovation in investment planning and budgeting will produce very good results."

Finance Minister Assen Vassilev said the budget was realistic but difficult to implement. Each capital expenditure is recorded line by line and on a monthly basis the capital programme can be monitored:

"For the past three years we have had a budget passed before the year in which it is to be implemented and I think that should be noted. This budget is realistic, but it will not be easy to implement, as more than a few of you have said. Absolutely every expenditure that the state makes as capital expenditure is recorded line by line in this programme and, accordingly, on a monthly basis we will be able to monitor how this programme is being implemented. A budget that supports incomes quite strongly, because this is extremely important, to finally stop saying that our competitive advantage is low wages."

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