2023 domestic revenues surge by JD374M, reaching JD7.695B

(File photo: Jordan News)
AMMANJordan's domestic revenues surged in the first eleven months of 2023, rising by JD374 million to approximately JD7.695 billion compared to the corresponding period in 2022, with their coverage of current expenses reaching 88.4 percent.اضافة اعلان

This increase was driven by a rise in tax revenues of around JD206.5 million and an uptick in non-tax revenues of about JD167.5 million, the Jordan News Agency, Petra reported.

According to the monthly financial bulletin, the surge in tax revenues was primarily propelled by an increase in income and profits tax revenues, totaling JD205.5 million and reaching JD1.678 million. This exceeded 108.6 percent of the estimation in the general budget law for 2023. The surge resulted from enhanced taxpayer commitment and compliance without raising tax rates.

Concerning public spending, the total outlay of the central government/budget during the first eleven months of 2023 reached about JD9.760 billion, compared to JD9.388 billion during the same period in 2022, primarily due to a JD590.7 million uptick in current expenditures.

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