Parliament approves €87.9b budget for 2024 with €11.4b deficit

The ​​​Parliament on Tuesday approved the government budget proposal for the year 2024, said an official press release.

All the main categories of the budget were approved in accordance with the Finance Committee's report.

At the end of the budget consideration, there was also a vote of confidence in the Government.

The opposition parties brought the no-confidence motion and the government survived by 96 votes to 80.

The state budget proposal for 2024 is about EUR 87.9 billion. The appropriation level is approximately EUR 6.5 billion more than in the actual budget of 2023.

The increase in the budget is caused, among other things, by the financing of welfare areas, index revisions and interest expenses, as well as investments in security and supporting Ukraine.

The income of the state budget without net borrowing is estimated to be approximately EUR 76.4 billion in 2024.

The state budget will therefore have a deficit of about EUR 11.4 billion, which will be covered by taking on debt.

The Finance Committee increased budget expenditures by EUR 50 million, which is allocated, for example, to the repair of transport routes, the strengthening of national defence and overall security, know-how and promotion of outdoor activities.