Amman, January 16 (Petra) – The Senate's Financial and Economic Committee, chaired by Rajai Muasher, convened on Thursday to discuss the 2025 draft general budget law with the government's economic team.

The session was attended by Minister of State for Economic Affairs Muhannad Shehadeh, Minister of Finance Abdul Hakim Shibli, Minister of Industry, Trade, and Supply Yarub Qudah, Minister of Investment Muthanna Gharaibeh, Minister of Planning and International Cooperation Zeina Toukan, and Minister of Digital Economy and Entrepreneurship Sami Smeirat.

Muasher highlighted the committee's recent engagements with government institutions to assess the alignment of their programs and executive plans with the Economic Modernization Vision, emphasizing His Majesty King Abdullah II’s directive for the government to fully commit to its implementation. He stressed the importance of clear financial and monetary policies to enhance competitiveness and reduce Jordan’s relatively high production costs.

Shehadeh outlined government efforts to translate the vision into action, including strategic projects such as the container port and Ma’an land port. He detailed measures like partnerships with the private sector, restructuring of the Villages and Cities Bank, and initiatives targeting youth entrepreneurship, including equipping gaming centers. He also noted legislative reviews of 14 key laws, including those governing electricity, gas, and real estate ownership.
Shehadeh highlighted over 41 government decisions to provide economic incentives, emphasizing that a robust private sector is essential for sustainable growth.

Shibli discussed financial policy priorities, focusing on achieving fiscal stability while aligning with the modernization vision. He emphasized improving public spending efficiency, enhancing local revenues, and managing the budget deficit.

Qudah underlined the impact of major projects on stimulating economic activity, particularly in construction, industry, and trade. He noted government efforts to address investment obstacles, including plans to connect 5-6 industrial cities to the gas grid to reduce operational costs.

Toukan presented a roadmap for financing and borrowing, integrating flexible, modifiable procedures to address financial challenges.

The committee members stressed the importance of accelerating measures to stimulate growth, reduce unemployment and poverty, and prioritize transformative projects with direct benefits for citizens.

//Petra// AJ

16/01/2025 14:12:16