The Draft Budgetary Plan (DBP) 2024, prepared according to Regulation EU 473/2013, is submitted by the Republic of Cyprus, in the framework of full participation in the regular economic governance framework and procedures. It is noted that Cyprus is in the preventive arm of the Stability and Growth Pact.
The DBP 2024 was approved by the Council of Ministers on 11th October 2023 and will be laid before the House of Representatives. The macroeconomic projections underlying the budgetary outcomes have been endorsed by the Fiscal Council on 29th September 2023.
The format and content of the document are in line with the requirements of the Code of Conduct, and therefore, macroeconomic and budgetary forecasts are presented for the current and forthcoming year, whereas broad categories are also presented for the medium-term. The analysis and forecasts contained in this document are based on the latest available results of 2023, as well as the Budget Bill for 2024 and Medium Term Budgetary Framework 2024-2026 that was submitted to the House of Representatives on 4th October2023.
