2024 budget deficit projected at 4.6% of GDP

The draft 2024 National Budget Law provides for a 4.4% increase in revenues to 107.17 billion lei. Expenses will amount to 122.96 billion lei, or 1.5% higher than this year. The resulting deficit is estimated to be 15.79 billion lei, or 4.6% of GDP. The Cabinet today approved this version of the draft 2024 National Budget Law.

Minister of Finance Petru Rotaru declared at today’s meeting of the Cabinet that the total sovereign debt at the end of 2024 will constitute 125.52 billion lei, of which 64.5% will be external debt, and it will not exceed 37% of GDP.

According to the draft budget, actions to support small and medium enterprises remain a priority, with more than 197 million lei allocated to finance a series of programs. Another priority is the continuous development of the transport system and infrastructure, with 4.03 billion lei earmarked for this sector.

For subsidizing the agricultural sector and rural development, allocations in the amount of 1.6 billion lei are planned, and for measures in the field of energy efficiency 322 million lei. For the implementation of policy measures in the field of regional and local development, allocations in the amount of 601 million lei are foreseen. Allocations of 175 million lei are provided for the field of environmental protection, and 100 million lei for the afforestation program.

The budget bill is to be debated in Parliament.

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