Jordan's Govt Approves Draft Budget Law For 2025
Date
11/21/2024 8:30:14 AM
(MENAFN- IANS) Amman, Nov 21 (IANS) Jordan's cabinet on Thursday approved the state budget for 2025 in preparation for its referral to the Lower House in the coming days.
The draft law estimated total public expenditures at 12.5 billion Jordanian dinars (about $17.62 billian), representing an increase of 16.5 per cent compared to the re-estimated level for 2024, the report said, noting the increase aims to cover funding for major projects, including the construction of new hospitals and schools, and the maintenance of old ones, Xinhua news agency reported quoting the state-run Petra news agency
The draft law also expects a decrease in primary deficit for 2025 to 2 per cent of the gross domestic product, compared to 2.9 per cent in 2024.
The draft budget estimated public revenues at 10.233 billion dinars, of which 9.498 billion dinars are local revenues and 734 million dinars are foreign grants.
The draft budget is based on the expectation that the national economy will grow by about 2.5 per cent in 2025, while maintaining moderate inflation rates.
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