Khaberni - Minister of Finance Abdel Hakeem Al-Shibli, on Tuesday, delivered the public budget speech for the year 2026.
Hereafter is the text of the budget speech:
In the name of Allah, Most Gracious, Most Merciful
His Excellency the President,
Honorable Members of the Parliament,
Peace, mercy, and blessings of Allah be upon you,
I am honored to present to your esteemed council, on behalf of the government, the public budget bill for the fiscal year 2026, which the government has been keen to submit early to allow ample time for your esteemed council to discuss it, looking forward to its approval before the end of the current year, thus enabling the government to implement capital projects for 2026 without delay and to continue implementing its policies and plans at the beginning of the coming year God willing.
The public budget bill reflects the development model based on the vision of economic modernization and projects linked to the second phase of the vision (2026-2029). The year 2026 will see the launch of several major development projects such as the national carrier project, energy projects, oil exploration and gas transportation, transportation projects, and the railway project, which will, God willing, bring about a positive change in the structure of the national economy and effects that support sustainable economic growth over the coming years, leading to the creation and expansion of job opportunities across various sectors. The bill also reflects the contents of the national financial and economic reform program to strengthen financial and structural reforms, which are one of the main pillars of the national economy and support growth and create an attractive investment environment. The law also focuses on the administrative development program, digitization, and social protection, providing the necessary funding for these essential programs.
His Excellency the President,
Honorable Members of the Parliament,
The global economy this year has experienced increased uncertainty due to economic disruptions and exceptional circumstances resulting from tensions in global trade relations and protectionist measures, and rising geopolitical tensions, which have led to severe disruptions in global supply chains. These developments have had a clear impact on global economic outlooks and growth forecasts, with the International Monetary Fund predicting a continued slowdown in global growth at a level of 3.2% in 2025, and a slowdown in global trade growth to 2.9% in 2025.
Despite the region being affected by these risky environments, our national economy has managed to absorb these developments, maintaining financial and economic stability, and demonstrating its ability to overcome challenges. The government has implemented a package of decisions aligned with the goals of the economic modernization vision to stimulate economic sector activities, improve services provided to citizens, and ease their financial burdens, contributing to the real gross domestic product growth rates of 2.7% and 2.8% during the first and second quarters of 2025, respectively, the highest growth rate in two years. Most economic sectors have seen improvements in their growth rates, notably the agriculture, electricity, water, and manufacturing sectors. It is expected that the gross domestic product growth rate will exceed 2.7% for the full year 2025.
The government has adopted a package of measures in 2025 to stimulate economic activity and reduce production costs, including measures aimed at stimulating industrial, agricultural, trade, and technology sectors, covering various sectors included in the economic modernization vision, in addition to measures related to the apartments, housing, land, and cars sectors, along with the central bank's decisions related to interest rate reductions. These measures will contribute to enhancing the gross domestic product growth rate, positively impacting the reduction of the public debt ratio to output.
His Excellency the President,
Honorable Members of the Parliament,
Indicators recorded during the elapsed period of 2025 show deep confidence in the investment climate in the Kingdom and the attractiveness of the economy for investment despite the turbulent regional environment, as confirmed by international financial institutions and global agencies, with foreign direct investment increasing by about 36% in the first half of this year to reach about one billion dollars. To enhance this growth state, the government will launch a new investment map including a comprehensive package of investment opportunities directed at strategic development projects across various sectors, and will intensify its efforts to enhance regional and international economic cooperation and leverage efforts made by His Majesty King Abdullah II in his international relations to attract investments by transforming these distinguished relations into strategic economic partnerships. The government expects strategic projects in the water and energy transport sectors to attract investments of about 10 billion dollars to be launched during 2026.
At a time when many countries are still working hard to contain inflation rates, government economic and monetary policies have continued their success in recording the lowest regional inflation rates, where the inflation rate reached 1.9% during the first nine months of this year, enhancing the exchange rate stability of the dinar and preserving the purchasing power of citizens and preventing the erosion of their incomes.
Inflation is expected to remain approximately at this level for the whole year, supported by foreign reserves that reached unprecedented levels exceeding 24 billion dollars by the end of October 2025, sufficient to cover imports for a period exceeding 9 months.
In terms of the external sector, data during the first nine months of this year indicate an increase in national exports by about 7.8% and imports by about 5.8%, and an increase in tourism income by about 6.8% to reach about 6 billion dollars, while remittances by Jordanian workers abroad increased by about 3.4% from their level last year. It should be noted that the current account deficit reached 7.4% of the gross domestic product during the first half of this year, and it is expected to contain this deficit to about 5.1% of the output for the full year 2025. The government will take additional measures to protect the local industry and stimulate its growth.
His Excellency the President,
Honorable Members of the Parliament,
The government has successfully completed the third and fourth reviews of the National Financial and Economic Reform Program this year in cooperation with the International Monetary Fund, which has praised the success of macroeconomic policies and continued government measures to implement structural reforms and accelerate economic growth, affirming that the Jordanian economy will experience further growth...
