Jordan's budget deficit increased by 110 percent on an annual basis during the first five months of this year ending in May.
According to the Jordanian Ministry of Finance, the budget deficit was 1.2 billion dinars (1.7 billion dollars), compared to 574.6 million dinars (810.2 million dollars) in the corresponding period of 2019. The budget recorded a deficit after external grants of 1.09 billion dinars (1.5 billion dollars), compared to 484.1 million dinars (862.5 million dollars) during the same period in 2019.
As of the end of last May, foreign grants amounted to 113.5 million dinars (160 million dollars), compared to 90.5 million dinars (127.6 million dollars) for the same period last year. According to the ministry, the increase in the deficit came as a result of the decline in local revenues during the first five months of this year, as a result of the closure of the economy and public holidays after mid-March due to the Corona crisis.
The total public debt (internal and external) owed by Jordan, at the end of last May, increased by 9.2 percent on an annual basis, compared to the same period in 2019, to 32.01 billion dinars (45.1 billion dollars), up from 29.3 billion dinars (41.3 billion dollars). The ratio of public debt to GDP until the end of last May was 101.2 percent, compared with 94.6 percent in the corresponding period of 2019, and 96.7 percent at the end of last year.
Source (Anadolu Agency, Edited)
