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The three-day debate on the state budget[/QUOTE]
The three-day debate on the state budget begins today in the Plenary Session of the Parliament
, which will be the last of the Nicos Anastasiades administration. The debate concludes on Thursday with the vote scheduled for after 6 p.m.
The budget provides for revenues of 11,759.3 billion and expenditures of 11,296.0 billion. The budget surplus amounts to €0.46 billion or 1.7% of GDP and the primary surplus is expected to be in the range of 3%.
Development expenditure, (projects under construction, co-financed projects, training, grants to educational institutions, fixed assets, etc.) are expected to increase by 12% in 2023.
Also included is an increase in primary expenditure compared to last year of about €554 million and increased appropriations for social protection of about 4%. Economic growth, in real terms, will slow to around 3% in 2023, and is expected to rise to 3.3% in 2024 and 3.2% in 2025.
The debate today starts at 3pm and is expected to last 4 hours and 10 minutes.
It will begin, as scheduled, with a brief report on the Finance Committee's report by its Chairwoman, Christiana Erotokritou, and will continue with speeches by the leaders and representatives of the political parties. The leaders of the DISY, AKEL and DIKO parties have been given 40 minutes and the leaders of the other parties 30 minutes each. There will be a break at 1 p.m. and a start in the afternoon from 3 to 8 p.m. Sixteen are the speakers for the morning debate and 20 for the afternoon debate.
On Thursday from 3 to 6 the debate will continue and the vote is scheduled for after six. In addition to DISY, information has it that both DIKO and DPA are in favour of approving the state budget. AKEL has already stated that it will vote against the budget, while the other parties will announce their final position during the plenary debate.
In a letter, the Ministry of Finance asked for a number of funds to be exempted from being blocked (crossed) by Parliament, in order not to affect the operation of the state machinery and the execution of some contracts in the coming months, due to the presidential elections.
The crossing of funds requires their notification and release by the parliamentary Finance Committee. However, due to the presidential election, the House of Representatives will be closed until March, making it impossible to release such funds until the House opens.
Source: CNA
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