The Syrian cabinet has passed the national budget for 2003, forecasting an 18 percent increase in spending reaching 420 billion Syrian pounds ($8.1 billion). According to Syrian media, SP 211 billion has been set aside for investments.
The budget allocates SP 209 billion to current expenditures including salaries and social services. It projects an 18 percent rise in revenues reaching SP 294 billion, of which SP 152 billion would be generated from oil revenues. Expenditure is estimated at SP 356.3 billion with SP 40.5 billion allocated to debt servicing.
The Syrian Parliament and the nation’s president Bashar Al-Asad must still officially approve the budget proposal. The government predicts next year’s plan will create of 34,000 new jobs in the administrative sector and 29,000 positions in the commerce sector. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
