President al-Assad issues law on setting revenues of 2016 state general budget

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Jouhina news,

President Bashar al-Assad issued on Monday law no.22 for 2015 on setting the revenues of the state general budget for 2016 fiscal year at SYP 1980 billion

The law stipulates for distributing the revenues of the budget according to the schedule of the expenditure estimates enclosed by this law.

Finance Minister Ismael Ismael told SANA that state general budget for the fiscal year 2016 was set at SYP 1980 billion, with an increase of SYP 426 billion or 27.41% compared to the 2015 budget, which was SYP 1554 billion.

Peoples’ Assembly approved on November 19th, the bill on the general budget for the fiscal year 2016, where Funds allocated for social subsidy, which will go towards stabilizing prices in markets, are set at SYP 192.25 billion, and the total sum allocated for social subsidy which includes all ensuing financial obligations is estimated at SYP 973,250,000,000.

Funds allocated for salaries, wages, and compensations are set at SYP 372.07 billion, which is 56.02 billion more than the 2015 budget.