Finances - NRW state parliament adopts record budget for 2024
The North Rhine-Westphalian state parliament has passed a record budget of more than 100 billion euros for 2024 for the first time. The budget law was passed on Wednesday with the black-green government majority in the third reading. The SPD, FDP and AfD voted against it.
With a volume of 102.1 billion euros, the budget for 2024 is 7.4 billion euros higher than the budget for the current year. More than 38 billion euros are earmarked for education alone. The country's interest expenditure will increase by one billion to 3.8 billion euros compared to 2023. Around three billion euros have been earmarked for refugees.
Despite the planned record spending, the country has to make savings in many areas. This is due to the sluggish economy, rising interest rates and tax revenues that are 150 million euros lower than planned.
Among other things, the black-green coalition wants to withdraw more than 300 million euros from the pension fund in 2024 and also siphon off 150 million euros from the state-owned Bau- und Liegenschaftsbetrieb NRW (BLB) for the first time.
PM Ministry of Finance Supplementary bill for the 2024 budget Plenary agenda
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- The opposition parties in North Rhine-Westphalia's state parliament, including the SPD, FDP, and AfD, voted against the record budget of over 102 billion euros for 2024 proposed by the black-green government.
- The Finances Ministry in Düsseldorf is planning to withdraw more than 300 million euros from the pension fund and siphon off 150 million euros from the state-owned Bau- und Liegenschaftsbetrieb NRW (BLB) to cover the expenses in the 2024 budget.
- Despite the record spending in areas like education (over 38 billion euros) and refugees (around three billion euros), the state government of North Rhine-Westphalia is forced to make savings due to the sluggish economy, rising interest rates, and lower than expected tax revenues.
- The 2024 budget report for North Rhine-Westphalia, which includes details on the spending plans, falls under the purview of the Ministry of Finance and is expected to be discussed in the upcoming state parliament session in Düsseldorf.
Source: www.stern.de
