Jordan's budget gap shrinks 26% y/y to USD 432mn in Jan-June 2013 on higher grants

By bne IntelliNews August 23, 2013

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 could return to emergency rule amidst deadly bomb explosions

A spate of explosions in Egypt over the long weekend marking the birthday of Prophet Mohamed culminated in the detonation of a bomb at a church attached to the Coptic Christian Cathedral that ... more

Egypt’s inflation spikes post November currency floatation, rate hike expected

Egypt’s annual inflation rate spiked in November to hit its highest levels since July 2008, reflecting the effects of the general rise in price levels of goods since the Egyptian pound’s ... more

Samba said to take Saudi Oger to court, torpedoing talks on standstill deal on $3.5bn debts

Saudi Arabia’s Samba Financial Group has taken Saudi Oger to court, torpedoing efforts by the latter to negotiate a standstill agreement on at least SAR13bn ($3.5bn) of debt, which could have major ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss