November 26 2022 3:25 PM E-paper Subscribe Sign in My Account Sign out

Jordan’s tax revenue as a percentage of GDP is above world average

The exterior of the Income and Sales Tax Department in Amman. (Photo: Twitter)
(File photo: Jordan News)
AMMAN— A report issued by the Arab Monetary Fund (AMF) shows that tax revenues in Jordan, as a percentage of the GDP, exceed the world average, at about 16 percent, Khaberni reported.اضافة اعلان

The AMF’s report on tax revenues in Arab countries for 2020 indicated that Morocco is the leading Arab country in terms of tax revenues, at about 21.2 percent.

It noted that the volume of tax revenues in Morocco and Jordan exceeds the global average of 13.6 percent. It also said that public expenditures should be directed toward supporting development projects and restructuring state-owned enterprises, to enhance productivity, especially in the agricultural sector, due to its vital importance, now more than ever, in view of the developments in the global economy.

Spending in these fields is desirable; it is classified as investment spending, which differs from consumer spending in that the return to the community is achieved in the medium and long terms.

The report said that Arab countries have witnessed a momentum in the effort to enhance the role of social safety nets, within the framework of ambitious economic reform programs that are being implemented.

It said governments seek to implement economic reforms that ensure economic stability, while focusing, in the process of implementation, on alleviating the burden on the vulnerable and low-income classes.


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