Jordan’s Senate approves 2020 state budget with 1.7 bln USD deficit

Jordan’s Senate on Monday endorsed the 2020 state budget draft law with a deficit of around 1.25 billion dinars (about 1.7 billion U.S. dollars), the state-run Petra news agency reported.

According to the Senate, the 2020 state budget forecasts a rise in domestic revenues to some 7.75 billion dinars, registering an increase of 10.4 percent from 2019.

Foreign grants are expected to reach 807 million dinars in 2020.

At a meeting at the Senate, Prime Minister Omar Razzaz said the government and all authorities are working in an integrated manner towards creating a budget to meet Jordan’s opportunities and challenges.

Finance Minister Mohamad Al-Ississ said the government is in discussions with the International Monetary Fund (IMF) for a new economic program designed to maintain Jordan’s economic growth momentum and financial stability.

In 2016, Jordan signed a 700 million U.S. dollars program with the IMF to boost the country’s economy.