Public revenues see increase in first 7 months of 2021

By JT - Sep 22,2021 - Last updated at Sep 22,2021

AMMAN — The Kingdom’s public revenues increased by JD1.207 billion in the first seven months of 2021, with local revenues growing by JD770 million and foreign grants by JD437 million, the Finance Ministry announced on Monday.

The ministry revealed that the public debt decreased by JD119 million, standing at JD27.194 billion at the end of July, comprising 85.8 per cent of estimated GDP, the Jordan News Agency, Petra, reported.

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 attributed to measures taken by the government within a broader public debt management and finance diversification strategy, the ministry added.

The government in July repaid Treasury bonds with a sum that exceeded the loan amount, where the net value of local issues stood at around JD338 million, said the ministry.

It also indicated that the budget deficit had dropped by JD729 million by the end of July, when compared with the same period in 2020. The deficit stood at some JD522 million at the end of July 2021, thanks to improved local revenues.

Meanwhile, public expenditures increased by JD478 million in the January-July period of 2021, the ministry noted, noting that the rise was driven by fiscal management and structural, legislative and legal management of tax avoidance.

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