The ABAO Bilbao has announced that its 2023-24 budget has been approved by the Asamblea General Ordinaria de Socios.

Per an official press statement, the organization revealed that the budget had been approved with 99.5 percent of registered votes.

Per the report, the company had a successful 2022-23 season which featured 7.5 million euros of income and 7.6 million euros of expenditures; the deficit represented an improvement of 79 percent of what was budgeted. For 2023-24, there will be an approved budget of 7.2 million euros, an approved expenditure of 7.5 million euros, and an approved deficit of 263,000 euros.

The company’s major challenge for next season is the recovery and addition of new business partners and new audiences.

“ABAO Bilbao Opera is a cultural project with a social vocation that is born of a private initiative with an integrated and sustainable vision,” said Juan Carlos Matellanes, the President of the ABAO, in the press release.