Lower House approves 2024 budget law

(File photo: Jordan News)
AMMAN — On Wednesday, the Lower House approved the General Budget Law for 2024, Al-Ghad reported.اضافة اعلان

During the session headed by Speaker Ahmad Safadi, and attended by Prime Minister Bisher Al-Khasawneh along with other government officials, 89 out of the 114 attending deputies voted in favor of the bill. Subsequently, the bill was referred to the Senate, where their financial committee will proceed to review the bill and refer it back to the council for final approval. It is anticipated that the draft law will be published in the official Gazette following His Majesty King Abdullah’s ratification and will take effect before the middle of February.

The 2024 budget law comprises general revenues totaling about JD10.3 billion, reflecting an 8.9 percent increase compared to 2023. Consequently, local revenues are projected to increase to JD9.6 billion, representing a 10 percent rise over their 2023 level. This increase is attributed to a 10.2 percent rise in tax revenues, reaching 7.2 billion dinars, achieved without the need for imposing any new taxes or increasing existing ones.

Additionally, the draft law includes larger allocations for public debt service. This increase is a result of the rise in global interest rates, in line with the inflation-curbing policy pursued by the US Federal Reserve.

Current expenditures are estimated at about JD10.6 billion, with capital expenditures at about JD1.7 billion, bringing the total public expenditures to JD12.37 billion.

Regarding capital expenditures, they increased by about 11.8 percent compared to their 2023 level, reaching about JD1.729 billion, marking the highest in history.

Moreover, deputies demanded comprehensive healthcare for every citizen, increased focus on the agriculture sector, support for the university student support fund, issuance of a general amnesty, an increase in salaries for civilian and military employees, both working and retired, and an amendment of the Anti-Terrorism Law to provide a clear definition and avoid confusion.

Notably, over the course of five sessions, 95 deputies addressed various issues, including Israel’s war on the Gaza Strip, opposition to any tampering with the student support fund, calls for comprehensive healthcare, and strong criticism of the budget figures and the increase in public debt service.

Read more National news
Jordan News