site.btaCabinet Adopts 2024 Budget Procedure

The Government approved the budget procedure for 2024 within the timeframe set by the Public Finance Act, in order to create the necessary organization and coordination between the different budget authorizing officers in the budget planning process.

The drafting of the 2023 State Budget Bill and the updated 2023-2025 Medium-Term Budget Estimates cannot realized within the timeframe specified in the Public Finance Act due to the political cycle associated with the early general elections at the end of 2022. In this respect, the start of the first stage of the 2024 budget procedure has been postponed to late February or early March 2023. the deadlines for the implementation of the activities under this stage have been shortened in order to comply with the deadline set out in Article 72(1) of the Public Finance Act, which is April 20 for the approval by the Council of Ministers of the medium-term budget estimates.

The budgetary procedure is consistent with the timing of the implementation of the mechanisms and measures set out in the European Semester milestones for economic policy coordination in 2023.