Jordanian Finance Minister Muhammad Al-Issis said on Wednesday that Jordan’s budget for 2024 is expected Economic growth By 2.6% of gross domestic productWith an expected deficit of 812 million dinars ($1.143 billion), compared to a deficit of 1.862 billion dinars ($2.625 billion) last year.
Al-Issis said that the total expected public expenditures in 2024 amount to 12.37 billion dinars ($17.42 billion), compared to 11.4 billion dinars ($16 billion) in 2023.
The value of expected public revenues, according to the draft new budget, is about 10.3 billion dinars ($14.507 billion), an increase of 8.9% from 2023.
Al-Issis expected that foreign grants would reach 724 million dinars ($1.019 billion).
He added that the draft budget for 2024 has succeeded in reducing the primary deficit for the fourth year in a row, and the government will be able to reduce the primary deficit to reach 812 million dinars ($1.143 billion), at a rate of 2.1% of the gross domestic product, compared to 2.6% in 2023.
It is expected that the government will refer the draft general budget law, in addition to the draft government units budget law, to the National Assembly, both its representatives and notables, in preparation for it proceeding through constitutional procedures and obtaining royal approval.
Reform program
Earlier this month, Al-Issis said that his country had agreed with… International Monetary Fund On a new reform program worth $1.2 billion over 4 years, which would send a message of confidence to investors and help protect the economy from the negative impact of the war launched by Israel on… Gaza strip Since the seventh of last October.
Al-Issis believed that the new program would help the Kingdom better adapt to the brunt of the conflict in Gaza compared to most other countries.
He added that this program is a protection document against the regional shocks that Jordan will be exposed to and will preserve its financial and monetary policy.
Jordan’s recovery from the impact of global economic turmoil, including the repercussions of the aggression on Gaza, will enable it to continue growth on the targeted path to reach 2.6% this year.
