November 6, 2013
Damascus, (SANA)_ The People’s Assembly referred the bill on the state’s budget for the fiscal year 2014, estimated at SYP 1390 billion, to the Budget and Accounts Committee for scrutiny before being brought back to the Assembly for approval.
The MPs called , during today’s session chaired by the Assembly Speaker, Mohammad Jihad al-Laham, for prioritizing the provision of basic foodstuffs to citizens, restoring security and stability, giving attention to the martyrs’ families and the reconstruction process, with focus on the agricultural sector, reducing exchange rate and curbing prices rise, among other issues.
Minister of Finance, Dr. Ismael Ismael said the government has no intention to abandon the policy of subsidization under the current conditions.
He stressed the importance of rationalizing public expenditure, pointing out that the public sector should be given great attention due to the major role it played under the crisis.
The minister said the ”2014 budget is not deflationary” and is, at the same time, not one of an expansion of expenditure under the current conditions, but is one that is close to reality within the available resources.
He pointed out that the palpable improvement in the SYP exchange rate will contribute to an expansion of expenditure next year.
He added that the 2014 budget is oriented towards restoring security and stability, providing the citizens’ needs and speeding up the production wheel.