Debate on the State Budget Scheduled for December

Debate on the State Budget Scheduled for December

Finance Minister to Kick Off Budget Talks; Central Bank Governor Konstantinos Herodotou to Join Later

The House of Representatives will convene to discuss the state budget on December 11, 12, and 13, according to an official announcement from the Parliament.

The preliminary schedule reveals that budget discussions in the Parliamentary Finance Committee will commence on Monday, October 23, with the presence of Finance Minister Makis Keraunos. Later the same day, the Central Bank Governor, Konstantinos Herodotou, will also join the committee.

Minister Keraunos presented the budget to the Parliament's President, Annita Dimitriou, on October 4. The official submission to the full House of Representatives took place on October 5, marking the beginning of procedures for its debate and eventual vote by the end of the year.

The proposed budget is a surplus budget, with a fiscal surplus of 2.2% of GDP and a primary surplus of 3.6% of GDP. It forecasts revenues of €9.892 billion, reflecting a 9.6% increase from the previous year. Expenses, excluding loan repayments and investments, are expected to rise by 17.7%, reaching €10.584 billion.

In total, the state budget for 2024, including loan repayments, interest, and investments, amounts to €13.040.7 billion. The expenditure breakdown is as follows: (a) Fixed Fund expenses of €4.340.8 billion, (b) Regular expenses amounting to €7.221.1 billion, and (c) Developmental expenses at €1.478.8 billion.

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