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Lithuanian parliament adopted the 2024 state budget – planned revenue 16.98 billion and expenditure 20.6 billion

The Lithuanian parliament on Tuesday adopted the 2024 state budget after more than three hours of deliberations as 73 MPs voted in favor, 52 voted against it and one lawmaker abstained.

The majority of the time lawmakers spent debating the motions tabled by MPs and rejected by the government the day before. All of them, including initiatives to provide additional funds for pay rises for teachers, prosecutors, environmentalists or various infrastructure, were rejected, leaving the 2024 state budget as it was approved by the Cabinet on Monday after months of deliberations.

Many members of the ruling block did not take part in the debate on the MPs’ proposals at all.

The largest share of the extra funds in next year’s budget will be spent on pensions and various social benefits, teachers’ salaries and road maintenance.

This is the penultimate budget drawn up by this government and the last one adopted by this parliament.

Next year, defense funding will for the first time exceed 2 billion euros and stand at 2.75 percent of GDP. Traditional budget allocations will amount to 2.52 percent of GDP, with the rest coming from the existing temporary bank solidarity levy and borrowings.

The increase in excise duties will raise the price of beer, wine and other alcoholic beverages, as well as tobacco products.

State revenue next year will amount to 16.98 billion euros and expenditure will stand at 20.6 billion euros, leading to a budget deficit of 3 percent of GDP.

Source: BNS

(Reproduction of BNS information in mass media and other websites without written consent of BNS is prohibited.)

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