For the First Time, MOF Issues the Final Accounts 2017 in February
3/1/2018 9:44:00 AM
The Ministry of Finance announced that it issued the budget final accounts for the fiscal year 2017 in February, and that it is sent to the House of Senates, House of Representatives, in addition to the Audit Beuarue.
In a statement published by MOF on Tuesday: "The Ministry of Finance, for the fourth year in a row, has issued the final accounts before the constitutional period specified by Article 112 of the Jordanian Constitution, which states that the government is to submit the final accounts at the end of the six months after the end of the fiscal year,".
MOF added that the early issuance of the accounts which has come before the specified date in the Constitution reflects the technical and administrative efforts of the ministry homogeneous employees and workflow that led to the issuance of the final account for the first time in the Ministry's history in February. This comes as evidence of further improvements the efficiency targeted strategies at the financial management level.
This unprecedented achievement would allow more transparency in the issuance of financial accounts and would enhance the financial disclosure policy of the Ministry as well as the Government as a whole.
The statement pointed out that the Ministry of Finance has issued the final accounts for the fiscal year 2013 at the end of June 2014, and the final accounts for the fiscal year 2014 at the end of May of 2015, and the final accounts for the fiscal year 2015 at the end of April 2016. The final accounts for the fiscal year 2016 were issued in March 2017. This comes as a proof of the ministry continues plan to accelerate the issuance of the final accounts of the annual budget in order to be issued in January of each year in the next two years.
As for the financial statements for 2017, the final account data showed a financial deficit after grants amounting to JD747.9 million, which was financed through internal and external borrowing. The total general revenues amounted to about JD 7425.3 million, of which JD6717.4 million were domestic revenues and JD 707.8 million were external grants, While public expenditures amounted to about JD8173.1 million, of which current expenditure is JD7113 million and capital expenditure of JD1060.2 million.
The Ministry published the details of this account on the Ministry's website to allow researchers, scholars and interested persons to access its details.