Senators endorse 2024 draft state budget as referred from MPs

AMMAN — The Senate on Tuesday endorsed the 2024 draft state budget as referred from the Lower House.

Senators also approved 29 recommendations put forth by the Senate’s Finance and Economy Committee following the government’s reply to lawmakers’ notes on the state budget law presented by Finance Minister Mohamad Al-Ississ, the Jordan News Agency, Petra, reported.

During the deliberation of the budget law, only seven senators took the podium and called for reducing expenditures, addressing general debt, curbing poverty and unemployment, addressing tax burdens, developing the investment environment, stimulating exports and financing small enterprises.

Senators also commended Gulf countries’ support for the Jordanian economy.

They also underscored the importance of exercising caution and control when transferring funds from capital to current expenditure, citing the “significant” implications for the country’s stability and well-being.

Al-Ississ reiterated the government’s commitment to implementing the directives of His Majesty King Abdullah to alleviate the living challenges faced by citizens amidst the complexities of a rapidly changing global economic landscape.

The minister said that the wage bill for these civic and military employees constitutes approximately 61 per cent of the total current expenditure.

He also pointed out an increase of approximately JD277 million in allocations for public debt interest, a consequence of the global interest rates surge, noting that JD100 million has been set aside as contingency expenses to address geopolitical uncertainties.

He also stressed that the government, over a span of four years, has escalated capital expenditure and social protection allocations to unprecedented levels, reaching JD1,729 million and JD2,349 million respectively.