Minister of Finance: There will be no tax increases in the 2027 budget

Al-Taj News – Minister of Finance Abdul Hakim Al-Shibli said on Monday that total expenditure in the 2027 budget will reach approximately 13 billion and 753 million dinars, including 12 billion and 25 million dinars for current expenditure, and 1 billion and 710 million dinars for capital expenditure.

He added that there will be no increase in taxes in the 2027 budget, confirming that the budget assumptions are based on not increasing income and sales taxes.

He continued that the budget includes developments approved yesterday and submitted to the House of Representatives today for endorsement within the constitutional deadline, enabling early expenditure on capital projects.

Al-Shibli stated that allocations for the Armed Forces and security agencies have been raised, and allocations have been budgeted to fund the increase for employees whose salaries are less than 600 dinars.

He explained that there is an acceleration in revenue growth compared to expenditure, which helps reduce the deficit, in addition to the role of electronic invoicing and combating tax evasion and avoidance.