The draft budget for 2024 will be revised; the capital program down to BGN 10bn

20.11.2023 Source: Ministry of Finance; FFBH

The Minister of Finance Asen Vasilev announced that the draft for the 2024 state budget will be revised. He specified that the main part of the macro framework remains the same, while the extraordinary energy tax on the transmission of Russian natural gas in the amount of BGN 20/MWh would be dropped in the revenue part. Recall that the fee was imposed in order to make it less profitable for Gazprom to supply gas through the country. As a result, the capital program will be decreased to around BGN 10bn from BGN 12bn initially budgeted.