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Lawmakers continue deliberations over 2024 budget law

By JT - Jan 29,2024 - Last updated at Jan 29,2024

The Lower House on Monday continues its deliberations over the 2024 draft state budget law (Petra photo)

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

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, the Jordan News Agency, Petra, reported.

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 introducing any new levies or increasing existing ones, according to a government statement. 

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

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