The Jordanian government has taken an important step towards boosting economic development in next year's budget by increasing spending on major projects, although it will widen the fiscal deficit.
The Council of Ministers approved the draft budget law for the fiscal year 2025, in preparation for its referral to the National Assembly in the coming days with a volume of 22.74 billion dinars ($ 31.68 billion) with a potential deficit of $ 2.93 billion.
Next year's expenditures are set to increase by 16 percent from 2024 levels to $17.43 billion, while projected revenues of $14.25 billion, of which more than $1 billion will be foreign aid.
In light of this, the deficit in the new budget, the largest ever for the state, will rise from an estimated level of $1.39 billion in the current budget.
