Local revenue jumped by a staggering JD404 million in the first seven months of the current year to a total of JD5.204 billion compared to the figure reported in the same period in 2022, achieving 59.4 percent of what was projected in the General Budget Law.
The rise came as a result of a leap in tax revenues of about JD199.3 million and an increase in non-tax revenues of about JD204.8 million.
The increase in tax revenues is due to the rise in income and profits tax revenues to JD227.5 million, as a result of the improvement in tax commitment and compliance of taxpayers in submitting tax returns, without raising tax rates.
In terms of public spending, the total spending of the central government/budget during the first seven months of the current year amounted to JD6.156 billion, compared to JD5.888 billion during the same period of the previous year, as a result of an increase in current expenditures to JD366.8 million compared to the figure reported in the same period of the year.
Subsequently, the
financial deficit saw a decrease of JD80.7 million, amounting to JD924.8 million during the first seven months of the current year, compared to JD1.005 billion during the same period of the previous year.
Source: Jordan News Agency