Public debt totaled JD30.4 through November 2022

Gov't financial measures reduced debt-to-GDP ratio — Finance Ministry

(File Photo: Jordan News)
AMMAN — As of November last year, Jordan’s 2022 public debt totaled JD30.4 billion, at 88.2 percent of GDP, compared to JD28.7 billion at the end of 2021, or 88.6 percent of GDP. اضافة اعلان

These figures reflect the government’s fiscal policy approach to achieving a gradual reduction in the government debt-to-GDP ratio, according to a monthly bulletin issued by the Finance Ministry.

RevenuesThe bulletin showed that domestic revenues during the first 11 months of 2022 amounted to JD7.3 billion, up by JD601.7 million compared the same period in 2021, the Jordan News Agency, Petra, reported.

The ministry broke down this revenue increase into a rise in tax revenues by JD369.2 million compared to the same period in 2021 and an increase in non-tax revenues by JD232.4 million.

Meanwhile, the coverage of expenditures by domestic revenues reached 90.2 per cent, compared to 84.8 per cent during the corresponding period in 2021.

The ministry attributed the increase in tax revenues to a boost in sales and service tax by JD90.5 million, to reach a value of JD3.8 billion.

ExpendituresPublic expenditures rose by JD598.1 million during the first 11 months of 2022 compared to 2021, totaling JD9.4 billion.

Compared to the January-November period of 2021, capital expenditure also increased by about JD412 million.

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