Domestic revenues soar to JD5.807 billion in first 8 months of 2023 — Finance Ministry

AMMAN — Domestic revenues rose to JD5.807 billion in the first eight months of 2023, marking an increase of JD387.6 million compared with same period of last year, the Ministry of Finance announced on Thursday.

The ministry added that the 92.1 per cent increase is due to the approximately JD177.6 million rise in tax revenues and JD210  million increase in non-tax revenues, the Jordan News Agency, Petra, reported.

The hike in tax revenues was attributed to the JD215.9 million increase in both income and profit tax revenue, which followed improved compliance in filing tax returns.

This revenue increase occurred without any tax increases, the ministry noted.

As for public expenditure, the central government/the budget spent JD7032.2 billion in the January-August period of 2023, an increase from JD6.836 billion during the same period last year.

The fiscal deficit dropped to JD1.189 billion during the first eight months of 2023, against JD1.291 billion during the same period of 2022.