Assad Issues Law on 2014 Budget

The 2014 state budget totals 1,390 billion Syrian Pounds

President Bashar Assad on Wednesday issued Law no. 25 for 2013, specifying the appropriations for the 2014 state budget, totaling 1,390 billion Syrian Pounds.

 

According to the law, the budgets for all economic and construction public institutions are to be issued by the Minister of Finance.

 

Based on the law, appropriations allocated for social subsidy are to be disbursed through the Agricultural Production Fund, the National Fund for Social Assistance and the General Establishment for Cotton Ginning and Marketing, in addition to food subsidies sugar, rice and wheat.

 

The Public Debt Fund is to grant public institutions of economic nature loans for investment projects whose appropriations are allocated according to the state budget.

 

The Fund is also to finance appropriations allocated to reconstruction and rehabilitation works. The funds will be transferred to the account of the committee in charge with reconstruction in the Central Bank of Syria.

 

The draft law on the general state budget for 2014 was approved by the People's Assembly  in its session last Sunday.

 

Appropriations for operations underway were set at 1,010 billion SP, while those allocated for investment operations were estimated at 380 SP billion, with a 105 billion SP increase on the 2013 budget.

 

Translated and edited by The Syrian Observer

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