2023 budget report projects 3% inflation rate, 2.7% economic growth

Ministry of Finance
(File photo: Ameer Khalifeh/Jordan News)
AMMAN — The Ministry of Finance on Sunday issued the General Budget report for the year 2023, in which it reiterated earlier pledges not to impose new taxes or increase existing ones, and to enhance capital spending to increase economic growth, which will positively affect the employment rates, Al-Mamlaka TV reported.اضافة اعلان

According to the report, financial estimates were based on the commitment to implement the requirements of the Economic Modernization Vision (2022-2033), its initiatives, plans and programs, and to carry out the public sector modernization roadmap (2022-2033), with its plans and programs.

The budget report was based on the expectation that next year economic growth will be to the tune of 2.7 percent, 3 percent in 2024, and 3.3 percent in 2025, and that the inflation rate will reach 3 percent next year.

Accordingly, the government decided to stop issuing new bids as of November 20; exceptions include bids approved by the prime minister, and the minister of finance, as well as capital projects funded by grants and loans.

It was also based on the completion of tasks entrusted to all ministries, departments and government units, according to clear priorities and programs, subject to monitoring and evaluation, and within specific time frames for implementation.

The budget report also projected improved and comprehensive health care services, a stronger role for primary health care, a strengthened governance and accountability framework in the sector, and bringing health care on par with international standards.

It also projected developing the capabilities of human resource working in the health sector, and accelerating and strengthening the digital transformation process.

The budget report took into account the projects and expenditures needed to meet the challenges resulting from climate change and the requirements of green growth, especially those mentioned as indicators for the implementation of understandings and agreements contracted with international bodies and institutions.

The report was issued to prepare the draft general budget law and the schemes followed by ministries, departments and government units in the fiscal year 2023, for further approval in accordance with the provisions of the Constitution.

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