High Council for Planning: 35,500 billion Syrian pounds, initial appropriations for the draft general budget for the year 2024

During its meeting today, headed by Engineer Hussein Arnous, Prime Minister, the High  Council for Economic and Social Planning set the draft initial appropriations for the state’s general budget project for the year 2024 at 35,500 billion Syrian pounds, distributed among 26,500 billion Syrian pounds for current spending, and 9,000 billion for investment spending.

According to the draft budget, the value of social support amounted to 6,210 billion liras, including 50 billion for the National Social Aid Fund, 75 billion for the Agricultural Production Support Fund, 2,000 billion for supporting oil derivatives, 103 billion for yeast, 7 billion for the Fund to mitigate the effects of drought and natural disasters, 50 billion for the fund switching to modern irrigation, and an amount of 75 billion liras was allocated to support the areas affected by the earthquake.

The Prime Minister explained that the current circumstances require focusing spending on productive projects that contribute to developing the national economy, improving the service reality, securing the needs of the citizen, and promoting agricultural industrialization projects that have a positive impact in terms of providing diverse products in the markets, in addition to focusing on projects with high implementation rates to complete it and put it into service.

He pointed out that “despite all the circumstances that Syria went through, the implementation rates of projects in the 2023 budget were good, and sometimes more than expected, also the implementation rates will exceed 80% for investment spending, and 100% for current spending until the end of this year.

Engineer Arnous pointed out that the draft budget for the year 2024 focuses mainly on revitalizing the agricultural and industrial sectors and securing production requirements, stressing the necessity of optimal use of available resources and focusing on investment projects with high economic returns that directly reflect the current reality and contribute to enhancing community economic development , while also providing a financial reserve in the budget to deal with any circumstances or situations that require direct intervention by the state.

The draft budget was prepared based on a number of foundations, including allocating the necessary appropriations to implement decrees and decisions issued with a financial impact and periodic promotions for workers, allocating appropriations allocated to job incentive systems for workers, job opportunities, and paying obligations towards civilian and military retirees and their families and loved ones, as well as for social support, in addition to allocating appropriations to support and stimulate the private agricultural, industrial and tourism sectors, improving public revenues, both current and investment, and ensuring their sustainability.

During the meeting, the draft budget was reviewed, details of current and investment spending, social support appropriations, electricity support, current and investment revenues, and budget chapters, in addition to tracking the implementation of the state’s general budget for the year 2023 until the end of the third quarter.

The Council agreed to include a number of additional priority service and development projects in the investment plans of a number of ministries, and stressed the priority of securing the needs of basic materials and petroleum derivatives, completing projects that reflect positively on the service and development realities, continuing to support the agricultural and industrial sectors, and providing all support to the agricultural and resource sectors, water, transportation, and electricity, as well as implementing priority projects therein in a way that contributes to improving the reality of these sectors.

Leen Al Salman