Local revenues hit JD2.73b in first tertile of 2022, up JD172m

Ministry of Finance
(File photo: Ameer Khalifeh/Jordan News)
AMMAN — Domestic revenues increased by approximately JD172.3 million to JD2.738 billion in the first four months of 2022, compared to JD2.565 billion in the same period of 2021, driven by an increase in tax revenues of JD202.2 million and a decrease in non-tax revenues of approximately JD29.9 million, according to the Jordan News Agency, Petra.اضافة اعلان

The economy's rebound from the coronavirus pandemic was the primary driver of the increase in tax revenue. According to figures released Thursday by the Ministry of Finance, enhanced tax compliance led to an increase in income tax revenues of JD176.9 million.

On the other hand, total government spending increased by JD137.2 million during the reporting period to JD3.101 billion, up from JD2.964 billion last year. In addition, the government's social protection spending increased by JD40.8 million.

Excluding the government's debt to the Social Security Investment Fund, the balance of government debt decreased to 88.6 percent of the estimated GDP by the end of April 2022, compared to 89.5 percent in 2021.

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