The Jordanian government has approved the budget for the year 2022, which is estimated that the total budget size of expenditures at about 10.229 billion dinars (14.42 billion dollars) with an estimated deficit of 2.046 billion dinars ($2.88 billion), accounting for 6.1 percent of the gross domestic product after receiving the foreign grants, against spending of 9.845 billion dinars ($13.88 billion) and a deficit of 1.970 billion dinars ($2.77 billion) in 2020.
The government intends to borrow about 8.103 billion dinars (11.42 billion dollars) compared to 6.85 billion dinars (9.65 billion dollars) for the current year. Taxes will rise by about 5.727 billion dinars ($8.075 billion), compared to 5.3 billion dinars ($7.47 billion). The government expects the inflation rate to reach about 2 percent in 2022, 2.5 percent in 2023, and 2.5 percent in 2024.
The Jordanian government is optimistic that the economic situation will improve next year and reach the stage of recovery from the Corona pandemic and its repercussions.
Source (The New Arab Newspaper, Edited)
