Lower House continues deliberations of 2024 state budget law in Jordan

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AMMAN — The Lower House on Sunday continued its deliberations over the 2024 draft state budget law.

Eighteen MPs took the podium on Sunday, with their remarks focused on the Israeli war on Gaza and Jordanian support to Palestinians in the war-torn strip, the Jordan News Agency, Petra, reported.

The Chamber of Deputies is expected to vote on the draft public budget law on Monday, according to Petra.

The government in late November endorsed the draft general budget law for 2024 with estimated public revenues of JD10.3 billion, marking an increase of 8.9 per cent compared with 2023.

Driven by a 10.2 per cent increase in tax revenues of JD7.2 billion, local revenues are estimated to reach JD9.6 billion in 2024 in the draft law, registering an increase of 10 per cent from 2023, without imposing any new levies or increasing existing ones, according to a government statement.

Current and capital expenditures are estimated at JD10.6 billion and JD1.7 billion respectively, the statement said.

Capital expenditure rose by 11.8 per cent from its 2023 level to about JD1.729 billion, "the highest in history".

The current deficit was projected to decline to 6.5 per cent of GDP in the 2024 budget law, with improvements in the trade balance, increased remittances from Jordanians working abroad, and a rise in foreign investments.