Budget deficit JD378m stand at in first third, debts up

AMMAN — The budget recorded in the first third of this year a deficit of JD378 million after grants, compared with JD146.7 million for the same period of 2017, the Jordan News Agency, Petra, reported, citing updated Finance Ministry data. 

The Finance Ministry said in its monthly report published on Thursday that the deficit, before external grants, amounted to about JD452 million, compared with a deficit of about JD231.7 million for the same period of 2017. Total public revenues (domestic and grants) in the first half of this year amounted to approximately JD2.464 billion, compared with JD2.366 billion for the same period of 2017.

Meanwhile, the total public debt at the end of April this year amounted to JD27.721 billion, constituting 96 per cent of the gross domestic product (GDP) at the end of April, compared with JD27.269 billion or 95.3 per cent of the GDP in 2017. 

The debts of the National Electricity Power Company (NEPCO) and the Water Authority amounted to about JD3.7 billion in the first third, the report said,  adding that the net public debt at the end of April of this year showed a rise of JD756.9 million, compared to the end of 2017. The ministry explained that the funds were borrowed to offset the deficit and cover guaranteed loans for NEPCO and the Water Authority.