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8:21 AM
In Jordan, the parliament has voted in favour of the confidence motion for the Prime Minister Fayez Tarawneh. In the 120 member parliament the vote was 75-31, with four abstentions and 10 MPs absent. The new Prime Minister faces a tough challenge to offset a huge budget deficit and hold elections this year to meet reform demands.
Tarawneh plans to raise commodity prices and taxes as part of an austerity package to tackle a huge deficit of around $3 billion in this year’s $9.6-billion budget. He said the government was looking into means to increase in the prices of electricity and some fuel derivatives. Other austerity measures include cuts in government spending, a freeze on hiring and a hike in taxes on some banks and mining companies.
Tarawneh plans to raise commodity prices and taxes as part of an austerity package to tackle a huge deficit of around $3 billion in this year’s $9.6-billion budget. He said the government was looking into means to increase in the prices of electricity and some fuel derivatives. Other austerity measures include cuts in government spending, a freeze on hiring and a hike in taxes on some banks and mining companies.
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