Royal Decrees ratify 2022 state, independent gov’t departments budget laws

Royal court
(Photo: Royal Court)
AMMAN — Royal Decrees to ratify the 2022 state budget law and the independent public institutions budget law were issued on Wednesday, according to the Jordan News Agency, Petra.اضافة اعلان

The General Budget Law No. 2 for the Fiscal Year 2022 and Independent Government Units Budgets Law No. 3 for the Fiscal Year 2022 were published in the Official Gazette, after the Parliament endorsed the two bills last month.

The current year’s budget envisages total expenditures at JD10.6 billion and public revenues at JD8.9 billion, 68 percent of the latter being tax revenue, 10 percent being foreign grants, and 22 percent coming from non-tax streams of revenue, with a deficit of JD1.7 billion.

As for growth, the budget projects that the national economy will see 2.7 percent growth by the end of this year and that inflation will stand at 2.5 percent.

According to budget projections, total public debt will be at JD38.8 billion, or 114.7 percent of gross domestic product (GDP). However, when the government debt to the Social Security Corporation is excluded, the public debt drops to JD30.8 billion, or 91 percent of GDP. 

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