Gov’t refers budget draft law to Lower House

(Photo: Jordan News)
AMMAN — The government has referred the 2023 general budget draft law to the House of Representatives, in preparation for its referral to the Finance Committee for discussion, according to Al-Mamlaka TV.اضافة اعلان

Minister of Finance Mohamad Al-Ississ is expected to deliver the general budget speech in the House of Representatives on Monday.

Total expenditures in the general budget draft law will reach JD11.4 billion, an 8.3 percent increase over those in 2022.

At a press conference last week, Ississ said that current expenditures will reach JD9.8 billion — a JD766 million or 8.4 percent increase from the re-estimation for the year 2022.

Capital expenditures in 2023 will remain at a level close to JD1.593 billion, an increase of 7.1 percent over 2022, according to Ississ.

About 64 percent of the current expenditures will cover salaries of the civil service servants and pensions of civil and military retirees.

Sixteen percent of current expenditures will go to pay debt interest. “There is a rise in the interest on public debt due to the rise in interest rates globally due to the US Federal Reserve raising interest, and because of the situation in Europe and the war in Ukraine, which led to a rise in the cost of borrowing from global financial markets,” Ississ said.

He highlighted “the allocation of JD277 million in the budget under the item of subsidized wheat, barley, and fodder, because the government is committed to maintaining the prices of basic strategic foodstuffs”.

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