Senate committee passes 2018 budget law

AMMAN — The Senate’s Finance and Economy Committee, headed by Senator Umayya Toukan, on Sunday passed the 2019 state and independent public institutions budgets law, as referred by the Lower House. The committee, according to the Jordan News Agency, Petra, will refer its report to Senate President Faisal Fayez.

The 2019 state budget draft law forecasts a GDP increase by 2.3 per cent, 2.5 per cent and 2.7 per cent for the years 2019, 2020 and 2021, respectively.

The state budget statement submitted to the House estimated the volume of local revenue in 2019 to reach JD8.01 billion, citing a 14.8 per cent increase from 2018, with the justification primarily attributed to the rise in tax and non-tax revenues by 15.9 per cent and 12.9 per cent, respectively.