Government debt balance has decreased to JD 30.5 million

decreasing chart made of coins Dept
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AMMAN — The government debt balance has decreased, excluding what is held by the Social Security Investment Fund, to a value of JD 30,517.3 million compared to 30,667.6 million in 2022.اضافة اعلان

Financial data indicated an increase in domestic revenues during the first two months of this year, reaching a value of JD 1,295.6 million, compared to JD 1,212.3 million during the same period of the previous year, with an increase of JD 83.3 million.

Rise in tax revenues
This increase in revenues is primarily due to a rise in tax revenues by approximately JD 34.4 million, reaching JD 1,004.6 million compared to JD 970.2 million during the same period of last year.

 The increase in tax revenues is attributed to higher income and profit taxes, amounting to around JD 41.4 million, indicating the government's commitment to financial and economic reforms, as well as the efforts of the Ministry of Finance and the Income and Sales Tax Department to expand the tax base.

Non-tax revenues also increased by approximately JD 48.9 million, reaching JD 291 million compared to JD 242.1 million during the same period in 2022.

Increase in higher property income
 This increase is mainly due to higher property income revenues by around JD 26.1 million, driven by an increase in financial surplus by JD 20.3 million compared to the same period last year.

Meanwhile, public expenditures increased to JD 97.6 million during the first two months of 2023, reaching a total of JD 1,504.4 million compared to JD 1,406.7 million during the same period in 2022.

This increase in total expenditure is attributed to a rise in current expenditures by JD 84.8 million, or 6.2 percent, and an increase in capital expenditures by approximately 12.9 million dinars, or 36.6 percent.

The government debt balance until the end of February 2023, after excluding the holdings of the SSIF amounted to JD 30,517.3 million, accounting for 89.6 percent of the estimated Gross Domestic Product for February 2023, compared to JD 30,667.6 million at the end of 2022, which represented 91 percent of the GDP.

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