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Public revenue up, debt down — MoF figures

ministry of finance building amman
(Photo: Jordan News)
AMMAN— Jordan's public revenue jumped by a staggering JD1.207 billion in the first seven months of 2021, the Ministry of Finance (MoF) announced on Monday. However, the total revenue for the seven-month period was not disclosed, according to the Jordan News Agency, Petra.اضافة اعلان

The ministry said in a statement that the rise was driven by a JD770-million-increase in domestic revenue and a JD437-million-increase in foreign aid. Ministry figures also showed that the budget deficit shrank by a massive JD729 million by the end of July, bringing the budget deficit down to JD522 million, thanks to improved local revenue, the ministry said.

The ministry revealed that the nation's public debt stood at JD27.19 billion at the end of July, with public debt constituting 85.8 percent of GDP.

However, the ministry pointed out that the debt figures exclude debt instruments held by the Social Security Investment Fund, the investment arm of the Social Security Corporation.

The decline in the Kingdom's public debt is "due to measures taken by the government within a broader public debt management and finance diversification strategy," the ministry statement said.

Public expenditures shot up by JD478 million in the first six months of the year, the ministry noted, explaining that the rise was driven by "prudent" fiscal management and structural, legislative and legal management of tax avoidance and evasion.

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