Senate Finance Committee approves 2022 draft state budget law

AMMAN — The Senate Finance and Economy Committee on Thursday approved the draft laws for the 2022 state budget and the budgets of independent government institutions as referred by the Lower House. 

Senate President Faisal Fayez, during the meeting, said that the “biggest challenge facing the Kingdom is the economic challenge and its social impact as the country is being targeted by those who take advantage of high poverty and unemployment rates, which hit unprecedented levels”, the Jordan News Agency, Petra, reported.

Enhancing the investment sector would be “the optimal solution for the current economic challenges”, he said, highlighting the importance of food security and investing in the agriculture sector, as well as investing in the industry, services and tourism-related sectors.

He also called for considering the panel’s recommendations in relation to the 2022 state budget and the budgets of independent government institutions.

Senator Jamal Sarayrah, head of the committee, said that the panel’s recommendations focus on stimulating economic growth through developing mega-projects in the agriculture, industry, transport, water, energy, technology and tourism, religious and health tourism-related sectors.

The senators also drew attention to the need to increase capital allocations, notably to those related to job-generating projects. 

Minister of Planning and International Cooperation Nasser Al Shraideh stressed that the state budget and the budgets of independent government institutions should not be considered in isolation from the country’s capabilities, the government’s economic and sectoral  policies and partnership with the private sector.  

Highlighting 2021’s positive indicators, the minister said that unemployment rates by the end of last year’s third quarter dropped to 23.2 per cent, compared with 25 per cent in 2020.