Complex Made Simple

Jordan budget deficit expands to JOD836m in 10 months

Local revenues and foreign grants in the period amounted to JOD5.29bn, down by JOD306m

Jordan’s budget deficit surged to JOD835.6 million in the January-October period of the current year compared with JOD696m in the same period last year.

The ministry of finance said the figure would be JOD1.24 billion if foreign grants and assistance is excluded.

Local revenues and foreign grants in the ten-month period amounted to JOD5.29bn, down by JOD306m when compared with the JOD5.59bn recorded in the same period last year.

By the end of October, public expenditure reached JOD6.12bn compared with JOD6.29bn, down by JOD167.3m, according to a report published by the Jordan News Agency (Petra).

The Arab kingdom’s net public debt at the end of October stood at JOD22.58bn or 83.3 per cent of gross domestic product against JOD20.55bn in the same period last year.

However, total public debt amounted to JOD24.67bn comprising 90.9 per cent of gross domestic product. The national electricity and water companies are in debt to the tune of JOD6.7bn.

(JOD1 = AED5.17, at the time of publishing)