Domestic revenues reached almost JD4.5 billion in H1 2023

AMMAN — Domestic revenues rose to JD4.421 billion in the first half of 2023, marking an increase of JD404 million compared with same period of last year, the Ministry of Finance announced on Thursday.

The ministry added that this increase is due to the approximately JD224 million rise in tax revenues and JD180 million increase in non-tax revenues, the Jordan News Agency, Petra, reported.

The hike in tax revenues was attributed to the JD246.4 million increase in income and profit tax revenue, which followed improved compliance in filing tax returns.

This revenue increase occurred without any tax increases, the ministry said, adding that non-tax revenues saw a rise of JD67.2 million, primarily due to an increase in various revenue items.

As for public expenditure, the central government spent JD5.146 billion in the January-June period of 2023, up from JD4.946 billion during the same period last year.

Excluding Social Security Investment Fund (SSIF) holdings, the government debt balance decreased to 89.8 per cent of the estimated GDP for June 2023, compared with 91 per cent of the GDP achieved in 2022. This figure includes the debts of the National Electric Power Company and Water Authority of Jordan.