The Council of Ministers has approved a growth rate of +1% for Pil nel 2024, with a predicted deficit/GDP ratio of 4.3% this year, which matches the level outlined in the Nadef programmatic framework. The debt/GDP ratio is expected to reach 137.8% in 2024. In order to construct the new budget, the Government will provide all necessary elements in the Structural Fiscal Plan, making Def much drier than previous years’ documents, according to government sources.
The approval of the EU plan involves input from various institutions and constructive discussions with both Parliament and the European Commission for evaluation. New accounting reporting rules are not yet in force, and operational guidance on how the Plan should be prepared is lacking. It has been agreed at the European level to suspend old procedures to avoid diluting political content. The linear process is expected to be completed in time for the finalization of the budget law for 2025 without causing uncertainty in markets.
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