Budget based on capital spending, salary hikes, says finance minister | Business | Ammon News



Budget based on capital spending, salary hikes, says finance minister


[12/5/2019 9:26:32 AM]

AMMONNEWS - Minister of Finance, Dr. Mohammad Ississ said the state budget is based on major axes, aimed to increase capital expenditure, hike salaries, improve the citizens' living standards and stimulate economic growth, in addition to reducing administrative flabbiness.

During a discussion session with officials concerned with the procedures of the 3rd executive package of the economic program launched by the government on Thursday, the minister said financial stability and improvement of the citizens' living conditions were taken into consideration when preparing the state budget, through rationing expenditures, addressing spending distortions and fighting tax and customs evasion.

As a result, the initial budget deficit has been slashed, he pointed out.

The salary hike of workers and pensioners is "well-deserved" in light of recession and high prices, he noted, adding the budget has worked to align the twin challenge of reducing the deficit and improving the citizens' living conditions.

The salary hike, the minister affirmed, will contribute to boosting growth through increasing the consumption level, and thus generating more revenues.

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