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Budget deficit drops by JD111m in first half

By JT - Aug 01,2017 - Last updated at Aug 01,2017

AMMAN — Jordan's total public debt has dropped by 0.7 per cent during the first half of 2017, the Jordan News Agency, Petra, reported on Tuesday.

According to the Finance Ministry, the debt reached JD26.472 billion, accounting for 94.4 per cent of the GDP compared to 95.1 per cent at the end of 2016.

For the net public debt, it increased by JD941.8 million at the end of June, compared to the end of last year, as a result of financing the deficit of the general budget and the government-guaranteed loans of the National Electricity Company and the Water Authority.

Also on Tuesday, the ministry said that the general budget's deficit, before grants, dropped down to JD111 million in the first six months of 2017.

The deficit amounted to JD420.7 million in the first half, compared with JD531.8 million for the same period of 2016, according to the ministry's monthly newsletter.

The total public revenues reached JD3.446 billion compared with JD3.528 billion for the same period of 2016, recording a drop of 6.8 per cent, while public expenditure during the same period, dropped to JD3.75 billion approximately, from JD3.82 billion in the first six months of 2016.

There was a drop in foreign grants by the end of June this year, to reach JD118.2 million, compared with JD240.7 million in the first half last year. The ministry said in its statement that expected grants stand at JD777 million, the bulk of which is expected in the fourth quarter of the year. 

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