JORDAN'S SENATE ENDORSES 2019 STATE BUDGET
Last Updated: 2019-01-21
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AMMAN, Jordan, Jan 21 (NNN-PETRA) - Jordan's Senate, on Sunday, endorsed the draft state budget law for 2019, with a wide deficit and an increase in total spending.

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

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 spending 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 two percent of GDP.

After the endorsement of the budget, Jordanian Finance Minister, Ezzeddine Kanakrieh, said, the government will maintain reasonable spending, 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.-- NNN-PETRA