The draft budget law 2024 is being prepared for the 2nd reading

The parliament is preparing law-in-draft on the republican budget 2024 for consideration in the second reading. The relevant Committee on Economic Policy, Budget and Finance considered today the amendments received. In accordance with the requirements of the law, the text part of the document is considered in the second reading.

Representatives of the Supreme Council and the Government discussed the mechanisms for executing the republican budget in the course of the meeting with the President the day before. The parties exchanged views, gave reasons and arguments in support of or against specific initiatives. It was possible to reach a common opinion on most issues even before the Committee meeting. The remaining part was further worked on during today’s Committee meeting.

Thus, deputies propose to maintain for household consumers the current limit on electricity consumption at a reduced cost in 2023 at the level of 500 kW as part of the provision of state support. The relevant parliamentary committee rejected the Government's amendment to reduce these limits to 300 kW. The final decision on this issue will be taken in the course of the plenary meeting next Wednesday. The second reading of the draft budget law is scheduled for the 6th of December.

Deputies will consider specific areas of spending in the third reading, which is tentatively scheduled to be held on December 13 including for state target programs and various Funds, the operation of which will continue in 2024.