Amman: The Budget Department on Monday published the draft general budget law and the draft law statement for ministry, department, and government unit formations for the 2025 fiscal year. According to Jordan News Agency, the statement was issued ahead of the completion of the draft general budget law for 2025. It discusses the procedures for its approval in accordance with the constitutional provisions, alongside the completion of the law governing the formations of ministries, departments, and government units. This initiative aligns with royal directives aimed at national economic modernization programs to achieve comprehensive sustainable growth and reduce the unemployment rate. The focus is on clear mechanisms for evaluating performance based on governance, transparency, and accountability. The statement highlighted the challenges and difficult circumstances facing Jordan, primarily due to ongoing regional and global tensions and their negative impacts on the national economy. The approach underscores the government's prudent financial policy and sound macroeconomic strategies, which have improved Jordan's credit rating and enhanced the credibility of government policies and procedures. The statement also revealed that the total ceiling for public spending has been set, and spending limits for each ministry, department, and government unit, including the governorates, have been established for 2025. The preparation of the draft general budget law for 2025 is based on several key trends, especially the acceleration of the executive program for the economic modernization vision and roadmap. The budget relies on several economic forecasts: GDP growth at constant prices is projected at 2.5% in 2025 and 3% in 2026 and 2027; nominal GDP growth is expected to reach 4.9% in 2025 and 5.6% in 2026 and 2027; inflation, measured by the relative change in the consumer price index, is predicted at 2.2% in 2025, 2.5% in 2026, and 2.3% in 2027. Additionally, export growth is anticipated at 0.7% in 2025, 6.6% in 2026, an d 4.6% in 2027, while import growth is projected at 4.1% in 2025, 7.1% in 2026, and 5.9% in 2027. The current account deficit of the balance of payments is expected to be -4.6% of GDP.
