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Today the Council of Ministers approved the 2024 Budget, the first budget of our administration, which gives a clear indication of our political priorities.
A surplus budget that translates the key principles of our governance programme into costed and deliverable projects and reforms, with people at the heart of all policies.
Achieving a sustainable and resilient economy and promoting the green and digital transition through modern governance are primary objectives, always within a framework of fiscal stability and accountability.
With a growth rate for 2024 estimated at 2.9%, and the creation of surpluses, we are ensuring a robust economy, which is our best shield to promote targeted social policies and create conditions of security. In this context, the fiscal balance in 2024 is estimated to be in surplus at 2.2% of GDP, while our medium-term objective, by 2026, is to reduce public debt to 60% of GDP.
The focus is on the real economy, through growth spending that improves competitiveness and productivity, as well as the earnings of workers as a whole, while creating new quality jobs. By way of example, capital expenditure compared to the 2023 budget is increased by €135 million. The responsible approach of governance in the preparation of the annual budget is reflected, among other things, in the much reduced increase in permanent jobs in the public sector, just 52 positions compared to 485 in the 2023 budget.
Strengthening the competitiveness of our economy is what will enable the implementation of targeted actions in important sectors such as education, health and social welfare.
Effective support for the middle class, improving the daily lives of citizens and effectively addressing the impact of poverty are the pillars of a pioneering governance model with a strong social and development dimension.
(PM/AF/EXP)
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