Budget 2017: Spending Estimates, Revenue Up

Expenditure at JOD10.7b, JOD777m Foreign Aid, Deficit Stands at JOD877m

تم نشره في Mon 28 November / Nov 2016. 01:00 AM - آخر تعديل في Mon 28 November / Nov 2016. 05:12 PM
  • A Session of the 17th House of Representatives - (Al Ghad)

AMMAN —Al Ghad— The government on Sunday submitted both the central and independent governmental units budget bills for the year 2017 to Parliament for ratification, showing an overall  3.1 per cent increase in expenditures to JOD10.7 billion, as opposed to JOD10.4 billion in 2016.

On the other hand, expected revenue from taxation remains at the levels of 2016, at JOD2.1 billion estimated in returns from taxation, as opposed to other more promising sections citing an estimated JOD567 million raise, 8.3 per cent, in local revenues, up to JOD7.34 billion in 2017, compared to JOD6.77 billion in 2016.

As for aid and foreign grants, the government estimated a 1.6 per cent drop in the proposed budget bills for the year 2017, from JOD814 million in 2016 to JOD777 million.

The deficit, however, for the year 2017, is estimated to decrease from JOD906.7 million in 2016 to JOD877 million. Net deficit after aid and grants is estimated at JOD116 million.

Meanwhile, capital expenditures remain within the 2016 range, at JOD1.316 billion for 2017, compared to JOD1.310 billion.

The increase in total expenditure was mostly caused by expansion in central government spending, as shown in the 2017 budget bill, at an estimated JOD8.94 billion, compared to JOD8.49 billion in 2017, particularly in the current expenses sections, citing a total 5.3 per cent increase.

In regards to the 2017 Independent Governmental Units Budget Bill, the proposed sheets show a decrease in spending scales, mostly due to receding National Electric Power Company (NEPCO) losses, bringing Unit spending down in total to JOD1.78 billion, compared to JOD1.9 billion in 2016, approximately 6.5 per cent, with an estimated JOD1.375 billion revenue for 2017.