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Wednesday, December 6, 2023

The state budget for 2024 was approved by the Cabinet

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Eγκρiθηκε απτ ο Υπουργικo ο κρατικoς προDπολο&gamma ;ισμoς για το 2024

“The 2024 Budget, the first budget of our government, was approved today by the Council of Ministers which also gives a clear indication of our political priorities”, it is stated in a statement of the Presidency of the Republic.

As noted it is “a surplus budget, which transforms the basic principles of the governance program into costed and implementable projects and reforms, putting people at the center of all policies.

The achievement of a sustainable and resilient economy and the promotion of the green and digital transition, through a modern governance, are primary goals, always in the context of fiscal stability and responsibility.

With a growth rate for 2024 estimated at 2.9%, and the creation of surpluses, we ensure a robust economy, which is our best armor to promote targeted social policy and create security conditions. In this context, the fiscal balance in 2024 is estimated to be in surplus and will reach 2.2% of GDP, while our medium-term goal, until 2026, is to reduce the public debt to 60%.

Emphasis is placed on the real economy, through development spending, which improves competitiveness and productivity, as well as the earnings of workers as a whole, while creating new quality jobs. As an example, I mention that the capital expenditures in relation to the 2023 budget are increased by €135 million. The responsible approach of the government in drawing up the annual budget is reflected, among others, in the greatly reduced increase in permanent jobs in the public sector, only 52 positions compared to 485 in the 2023 budget.

Strengthening the competitiveness of our economy is what will allow the implementation of targeted actions in important sectors, such as Education, Health and Social Welfare.

The essential support of the middle class, the improvement of citizens' everyday life and the effective treatment of the effects of precision are the axes of a pioneering model of governance with a strong social and developmental character”.


Source: 24h.com.cy

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