Budget deficit reaches more than JD1 billion by end of July

Ministry of Finance
(File photo: Ameer Khalifeh/Jordan News)
AMMAN  — The government’s general budget recorded a JD1.005 billion deficit after grants in the first seven months of 2022, while it recorded a JD521.9 million deficit in the same period of the previous year, according to Hala News.اضافة اعلان

According to the Ministry of Finance monthly report, the deficit before external grants amounted to JD1.087 billion during the same period, while it stood at JD1.077 billion during the same period of last year.

The government’s total general revenues in the said period amounted to JD4.882 billion, compared to JD4.917 billion during the same period of 2021, a decrease of JD35 million, or 0.7 percent.

Meanwhile, local revenues amounted to JD4.8 billion during the first seven months of 2022, compared to JD4.362 billion during the same period of 2021, recording an increase of JD438.4 million. Non-tax revenues increased by JD63.4 million.

The rise in tax revenues was mainly the result of an increase in the general tax on “goods and services”, by JD129.9 million, or 5.9 percent, an increase in the proceeds of the general tax on “income and profits”, by JD284.4 million, or 30.1 percent, and also increased tax revenues on “financial transactions (real estate sale tax)”, of JD13.8 million, or 38.8 percent; taxes on international trade and transactions decreased by JD53.1 million, or 28.6 percent.

The increase in non-tax revenues was attributed to a rise in the proceeds of various revenues by about JD73.3 million. That included an increase in mining revenues, a rise in the proceeds from the sale of goods and services by about JD32.6 million, and a decrease in the proceeds of property income by about JD40.3 million. Retirement income also declined by about JD2.1 million.

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