Lower House Financial Committee discusses 2025 budget law with government economic team

AMMAN — The Lower House Financial Committee discussed on Tuesday the 2025 state budget law with the government economic team.

Head of the panel MP Nimer Sleihatsaid the draft budget allocates D241 million to support the Economic Modernisation Vision (EMV) programmes for 2025 and an additional JD60 million for government units.

Sleihat urged monitoring and evaluation of the impact of government decisions on vital economic sectors to increase local production and create job opportunities, the Jordan News Agency, Petra, reported. 

He said reducing interest rates by 100 basis points is a "positive step," calling for developing a flexible plan to address unpaid financial obligations. He proposed establishing a company to support exports.

Minister of State for Economic Affairs Muhannad Shehadeh said that the 2025 budget draft allocates JOD301 million to support the EMV.

He explained that the vision is centered around eight key drivers across 35 economic sectors, with clear government plans to capitalise on opportunities in these areas.

Shehadeh said the government introduced over 41 incentive measures to support the economy, including significant support for the services sector, promoting medical tourism and allocating JOD30 million from the Industry Support Fund to boost the competitiveness of Jordanian exports.

Minister of Tourism and Antiquities Lina Annab highlighted the "remarkable" improvement in tourism over recent years and the "significant' increase over the past decade.

Annab said the ministry is focused on strengthening medical and religious tourism, given Jordan's competitive advantages and efforts to reach out to other countries, including Eastern Europe.

Minister of Digital Economy and Entrepreneurship Sami Smeirat outlined the government's plans to fully digitise its services by 2026, noting that 60 per cent of government services are already digitised, with 20 per cent more set to be digitised soon, bringing the total to 80 per cent.

Minister of Investment Mothanna Gharaibeh outlined the ministry's initiatives to stimulate economic development and investment, including launching projects worth up to JD9.5 billion in energy, roads, infrastructure and water, according to Petra. 

He reported improvements in the investment licensing process, including establishing a unified investment window to streamline procedures.