Jordan has begun preparing the draft state budget for the next year 2021 in exceptional and unprecedented circumstances since the financial crisis that the country faced more than 30 years ago, as the economy witnessed a slowdown, despite the fact that before the pandemic, expectations were directed towards the start of the recovery from 2020.
According to the data prepared by the government before the Corona crisis, it is estimated that the size of Jordan's budget for the next year is $14.22 billion, with an expected deficit of about $1.8 billion after grants and foreign aid, and $2.8 billion before it is calculated. Whereas, the government estimated the size of Jordan's budget for the current year at about $13.8 billion, with a deficit of $1.6 billion after grants and about $2.9 billion before grants were calculated, accounting for 2.3% of GDP. As a direct result of the Corona crisis, the Jordan Banking Association expected an increase in the budget deficit for 2020 to $2.9 billion.
In this context, Finance Minister Mohamad Al-Ississ stressed, "the necessity of adhering to the specific financial ceilings that take into account the policy of controlling and rationalizing public spending and taking into account the limited financial resources in light of the repercussions of the Corona crisis on the economy and public finance."
Source (Al-Araby Al-Jadeed Newspaper, Edited)
