Jordanian cabinet adopts new economic measures
Jordan's Council of Ministers has adopted a package of decisions that will help offset the effects of the global economic crisis on the standards of living of Jordanians and boost their ability to meet their basic needs in the face of the rising prices in world markets.
The package included an exemption of the sales tax imposed on kerosene, diesel, and gasoline Octane 90. The exemption will be applied until the end of the year. This decision led to a drop of 6 per cent in the prices of kerosene and diesel from 545 fils per liter to 515 fils / liter, while the price of gasoline fell from 655 fils to 620 fils. The cost of the abolition of the tax to the Jordanian treasury will amount to JD69 million (some US$97 million) annually.
The Cabinet also decided to allocate US$ 20 million for military and civilian institutions to subsidize prices of commodities and prevent price hikes.
- IMF report details the crippling economic effects of conflict in MENA
- Saudi Arabia's plastic consumption 20 times higher than global average
- VAT in Egypt: A guide to taxed and exempted goods
- Go big or go home: Expat salaries soar in Dubai
- Lebanon: Financial analysts warn of long-term economic repercussions after BLOM Bank attack