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Jordan's Senate endorses 2019 state budget
Last Updated: 2019-01-21 07:30 | Xinhua
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Jordan's Senate on Sunday endorsed the draft state budget law for 2019, with a wide deficit and an increase in total spending, state Petra News Agency reported.

The Senate's Finance and Economic Committee endorsed the bill after the Lower House approved it with 60 votes in favor.

The draft indicated that the general revenues were estimated at 8.61 billion dinars (12.13 billion U.S. dollars), with 8.01 billion dinars of domestic revenues and 600 million dinars of foreign grants.

According to the draft law, the total public spendings are estimated at 9.26 billion dinars with an increase of 437 million dinars compared with 2018.

The deficit after foreign financial assistance is expected to stand at 646 million dinars, accounting for 2 percent of GDP.

After the endorsement of the budget, Jordanian Finance Minister Ezzeddine Kanakrieh said the government will maintain reasonable spendings during the next stage.

To help boost the economy and address challenges, the minister said the government is working on amending the public-private partnership law, which seeks to create jobs and boost investments.

Of the total spending, around 8.01 billion dinars is current expenditure, while 1.24 billion dinars is capital expenditure, the cabinet said.

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Jordan's Senate endorses 2019 state budget
Source:Xinhua | 2019-01-21 07:30
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