Jordan's state budget deficit narrowed 26% y/y to JOD 310mn (USD 432mn) in the first half of 2013 helped by higher foreign grants receivables that boosted overall revenue, daily Ad-doustour reported on August 23 citing finance ministry data. Revenue (including grants) climbed 19% y/y to JOD 2.98bn and spending jumped 13% to JOD 3.29bn. Excluding grants, the budget gap widened to JOD 742mn from JOD 442mn the year before.
Foreign grants jumped to JOD 433.2mn in January-June from just JOD 25.2mn a year earlier.
Tax proceeds rose 6.2% y/y over the period also helping lift state income. Current spending rose 9% y/y in H1 on higher military wages and social contributions. Capital spending jumped 58% mainly due to a low prior-year base.
Jordan’s budget deficit will shrink to 4.8% of GDP in 2013 from 8.2% the year before, the IMF forecasts. Higher grants receivables, austerity measures and falling energy imports will help Jordan improve its external balances in 2013. Jordan expects to get JOD 850mn (USD 1.2bn) worth of foreign grants in 2013.
Related Articles
Egypt signs oil and gas exploration deals with Dragon Oil, Perenco and Apache worth over $121mn
Egypt’s Ministry of Petroleum and Mineral Resources signed three agreements on September 14 – with UAE-based Dragon Oil, and French independent Perenco Egypt and its US peer Apache Egypt ... more
Egypt eyes $5.2bn in manufacturing investments for FY2025/26, says planning minister
The Egyptian government plans to attract EGP 252.8bn ($5.2bn) in investments to the manufacturing sector for FY 2025/26, Economy Plus reported on September 3, citing the country’s Minister of ... more
Egypt set to receive $500mn tranche from IMF Resilience and Sustainability Facility before end-2025
Egypt is set to receive the first tranche of $500mn from the International Monetary Fund’s (IMF) Resilience and Sustainability Facility (RSF) before the end of 2025, Asharq Business reported on ... more
Most Read
-
Renewable capacity growth is faster than ever, but more acceleration needed to meet Paris 2030 goal, says IEA
1 year ago
-
Kyrgyzstan abandons attempt to rescue Russian climber trapped on icy summit of country’s highest mountain
23 days ago
-
BERTRAND: China after Communism, preparing for a post-CCP China
1 month ago
-
Hungarian economy faces weak growth, slow path to price stability, central bank report shows
2 months ago
-
UKRAINE REMONT: The battle to build: signs of recovery in Ukraine's construction industry
5 months ago