Jordan’s public debt comprises 96.4 of GDP at end of August

Shaheennews – 

Jordan’s public debt at the end of August amounted to about JD28.364 billion, constituting 96.4 percent of the estimated Gross Domestic Product (GDP), compared to JD27.269 billion, constituting 95.9 percent of GDP, in the same month of 2017.

A statement issued Tuesday by the Ministry of Finance showed that domestic revenues rose by JD45.7 million or 1 percent to record a value of JD4.532 billion compared to JD4.486 billion during the same period of 2017.

This increase in domestic revenues was due to an increase in tax revenues by about JD29.9 million and an increase in non-tax revenues by JD15.8 million, the statement added.

Foreign grants amounted to JD190.7 million compared to JD158.8 million during the same period of 2017, an increase of about JD31.9 million, or 20.1 percent, compared to the same period last year.

Total expenditure amounted to about JD5.505 billion compared to JD5.294 billion during the same period of 2017, recording an increase of JD211.4 million and of 4 percent.

The increase in total expenditure was the result of a rise in current expenditures by JD311.2 million or 6.6 percent, while capital expenditures decreased by JD99.8 million or 16.5 percent.

Pre-grant budget deficit at the end of August amounted to about JD782.3 million compared to JD648.5 million during the same period of 2017, while post-grant deficit amounted to about JD973 million during the first eight months of 2018 compared to a deficit of about JD807.3 million during the same period of 2017.

“The government is working to achieve the deficit estimated in the general budget law of about JD523 million,” the ministry noted.

The ministry said the deficit will decline at the end of the year to reach the targeted levels after receiving most of the grants, especially the US grant.