Jordan's foreign debt declines to JD 4.9 billion
The Kingdom's revenues and foreign aid in the first half of the year 2000 rose by 3.2 percent, a report by the Ministry of Finance said on Saturday.
The report, which was made available to the Jordan Times, showed that revenues in the first six months amounted to JD 867 million compared to JD 840.3 million for the same period last year.
The local revenues amounted to JD 757.1 million, down from JD 773.8 million in the same period of 1999.
The report said the decline in local revenues was due to the decrease in non-tax revenues, which amounted to JD 276.8 million, a decline of 16 percent, despite an increase in the tax revenues which totaled JD 480.3 million.
The tax revenues rose by 8.1 percent, the report said.
"The increase in the local revenues was due to the decline of the customs duties and other taxes along with the increase in the income and sale taxes," the report said.
According to the report, the slip in the non-tax revenues was attributed to the decline in "the interest and profits of the Jordan Telecommunication Company and the Ports Corporation.
The total expenditure rose to JD 959.1 million compared to JD 934.7 million in the same period of 1999, or a 2.6 percent increase.
The rise was attributed to the increase of the current expenditure, which rose by 6.5 percent, the report showed.
It said that the half year deficit amounted to JD 49.2 million compared to JD 46.1 million in the same period of the previous year.
Foreign debt declined to JD 4.9 billion compared to JD 5.1 billion in the same period of 1999, or a 4.4 percent decline.
The government's domestic debt amounted to JD 1.1 billion compared to JD 889 million by the end of 1999, or a 23.7 percent increase. – (Jordan Times)
By Tareq Ayyoub
© 2000 Mena Report (www.menareport.com)