The Department of Finance at the School of Business hosted the Chairman of the Financial Committee in the Lower House, MP Yousef Al-Qurnah in an open discussion on Jordan's Budget Draft for fiscal year 2015.
Dr. Ghada Tayem, School of Business, moderated the discussion where she pointed out the importance of the timing of this talk. Tayem explained that the Financial Committee has submitted its 36 recommendations just recently.
In turn, Al-Qurnesh gave a detailed overview of the main expenditures in the 2015 Budget draft. He stated that the Committee has narrowed the 2015 Budget deficit to JD468 million, from the JD688 million in the government version and cut down current expenditure by over 200 million from JD6.922 billion as estimated in the government’s version of the law to around JD6.700 billion.
Al-Qurnah, continued by reviewing some of the 36 recommendations presented to the House. He argued that these recommendations are intended to stimulate the economy, cut the budget deficit, curb expenditures and address the country’s energy problem.
According to Al-Qurnah, the Committee suggested the establishment of a JD100-million emergency fund at the Central Bank of Jordan to cover the needs of the army and other security bodies during exceptional circumstances. The committee also called on the government to embark on negotiations with lending countries to cancel part of Jordan’s debts in return for the Kingdom’s humanitarian assistance to Syrian refugees and its war on terror.
At the end of Al-Qurnah's talk, attended by the deputy dean and faculty members and students, the floor was open for questions.