Jordan’s cabinet has passed the state’s 2016 draft budget with a total public expenditure of JOD8.49 billion, while the deficit is envisaged at JOD907 million.
The draft budget is 9.7 per cent higher than the current year’s budget, says Ummaya Toukan, minister of Finance, while highlighting keg figures of the bill.
The country’s gross public revenues are projected at JOD7.58bn, the minister explains, adding that next year’s capital spending is estimated at JOD1.31bn, up by 20 per cent from this year’s figure, which stand at JOD1.09bn.
He added that the projected cost of hosting a massive influx of Syrian refugees in the Kingdom is also included in the bill. He noted that next year’s deficit would only comprise three per cent of the gross domestic product, according to the Jordan news agency, Petra.
Toukan assured the public that there would be no hikes in electricity prices next year, with the current fare continuing in 2016.
He told a press conference that net public debt is forecast to reach JOD22.4bn by the end of this year and JOD23.9bn in 2016.
The minister spoke about a number of ambitious, multi-million projects in 2016 in areas of public transport, energy and infrastructure.
(JOD1 = AED5.17, at the time of publishing)