Al-Ali: Red Sea events to rise inflation rates within months

27-02-2024 01:13 PM

Ammon News - The rapporteur of the Finance Committee in the Senate, Suhair Al-Ali, said on Tuesday that the preparation of the draft general budget law for the fiscal year 2024 comes under conditions that will leave their effects on the national economy.

In the committee’s speech at a Senate session on Tuesday, Al-ALi added that Jordan is facing exceptional circumstances, but it was able to emerge from the crises more resilient, and was able to achieve positive growth rates.

The successive crises are affecting the security and economy of Jordan, as we are witnessing today a new rise in maritime shipping prices due to the events in the Red Sea, which will raise inflation rates in the coming months, and the government will have a great responsibility in dealing with these indicators that may not actually correspond to the budget assumptions, she stated.

She indicated also that His Majesty King Abdullah II, in the Royal Throne Speech in which His Majesty opened the current session, stressed the necessity of continuing hard work in order to move forward with the implementation of comprehensive modernization programs in all its paths, and His Majesty also directed the necessity of close cooperation between the two authorities to achieve the goals of the modernization program.

The government, through the draft law, gives special priority to maintaining financial and monetary stability without resorting to imposing taxes, and revenues are increased by combating tax evasion and avoidance, she noted.

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