Jordan's budget reports $82mn surplus in January

By bne IntelliNews April 19, 2016

Rising proceeds helped Jordan’s state budget record a JOD58.2mn ($82mn) surplus in January this year, well expanding from a mere JOD8mn surplus in January 2015, preliminary data from the finance ministry showed. Jordan’s budget parameters are usually strong in the first two months of the year mainly for administrative factors before swinging into deficits later in the year.

Falling foreign grants and thus total state income widened Jordan’s budget deficit by 59% to JOD929mn ($1.31bn) in 2015, equalling to 3.4% of the estimated full-year GDP.

Excluding grants, the budget reported a JOD22.7mn surplus in January, reversing a JOD40mn gap a year earlier.

Foreign grants sank 25% y/y to JOD36mn in January.

Total budget revenue grew 11.4% y/y to JOD546.3mn in January, well overshooting a mild 1.1% annual rise in spending to JOD488mn.

Domestic budget revenue climbed 15.3% y/y to JOD511mn, lifted by higher tax collection mainly on strong local and tourism demand that continues to support services income, customs duties and VAT proceeds. Income profit tax revenue expanded 15% y/y in January and those from international trade grew 4.6%. The good news is that the constructions sector rebounded in 2016 with related tax collected growing 7% y/y in January.

Current spending grew 3.3% y/y to JOD483mn in January and capital spending dropped 66% on austerity measures in line with the IMF requirements and high base effects.

Related Articles

Iran, Syria sign raft of memoranda and deals

Following the purge of foreign-backed rebels in the devastated Syrian city of Aleppo by Iranian, Lebanese and Russian forces, Damascus’s prime minister Imad Khamis was in Tehran to sign five ... more

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

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