AMMAN — Jordan’s Senate has approved
Sunday, by a majority, the draft laws on the general budget and the budget of
government units for the 2022 fiscal year as referred from the
Lower House, in
preparation for their endorsement by a Royal decree and then publication in the
Official Gazette to start spending, Jordan News Agency, Petra, reported.
اضافة اعلان
The Senate, during an evening session, chaired by
its Second Vice-President,
Rajai Muasher, and in the presence of Cabinet
members, also approved 36 recommendations presented by its Finance Committee on
the two budget bills, while two senators only voted against the two draft laws.
At the beginning of the session, the
Upper House
listened to the government’s response to the senators’ remarks, delivered by
Finance Minister Mohammad Ississ, then senators voted on the two draft laws, in
accordance with the Constitution (Article 112).
Closing the session, Muasher stressed the importance
of revisiting government economic policies, adding that financial and economic
reforms should not affect citizens’ lives, but must contribute to accelerating
growth, and protecting the middle class.
Muasher also called for revamping investment-related
laws, and creating a single body to process investors’ transactions, stressing
the Senate’s keenness to cooperate and coordinate with the government to speed
up progress in various fields. He
thanked “brotherly and friendly countries” for their support to Jordan,
especially the
Arab Gulf Cooperation (GCC) states.
The total estimated expenditure in the general
budget bill stands at JD10.6 billion, while about JD1.5 billion are allocated
to government units. Revenues in the general budget are estimated at JD8.9
billion, whereas government unit revenues are about JD860 million.
Minister of Finance Mohammad Al-Ississ said that the
government is dealing with the economic reality in a clear objective manner,
“which means that our national model must be realistic, free of illusions and
dreams,” according to local media outlets.
During 2022, the government will initiate some
infrastructure projects, most notably the national water carrier project, as
well as the first stage of the Jordan National Railway Project, according to
Ississ.
The minister spoke about the Higher Public-Private
Partnership Commission’s approval to proceed with the submission of two bids to
construct 15 public schools, in addition to the construction of buildings,
freight yards and passenger terminals for the new border crossing of the
King Hussein Bridge, all of which are listed in the government’s 2021-2023 economic
priorities program.
The Senate finance committee recommended to develop
and follow-up on a comprehensive economic recovery program for the next five
years, as well as to devise a long-term strategy to address public debt and
rebalance taxes.
Ississ said that the government will carry out
quarterly checks on revenue and public expenditure, and monthly budget
implementation reports for the purpose of timely decision-making.
Ississ noted that many countries in the developed
world are experiencing economic growth at varying levels, however, the
US Federal Bank is expected to raise interest rates in several stages during 2022,
which will have a negative impact on recovery levels worldwide, therefore
creating an additional challenge for Jordan.
“Just as world economies have barely caught their
breath from the fallout of the COVID-19 pandemic, the recent
Russian-Ukrainian crisis deepened the complexities of the economic scene, the degree of
uncertainty and the prospects for global economic growth,” Ississ said.
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