Jordan cuts budget deficit
The Jordanian finance ministry said the Kingdom's budget deficit has fallen by more than half in the first seven months of this year compared to the same period last year as the Government to reined in expenditure and continued to freeze projects, which are not vital. Sources with the ministry said that the budget deficit in the period between January and July amounted to JD280.9 million (US$396 million), down from JD640.5 million in the same period in 2009. At the end of last year, the deficit reached a record level of JD1.45 billion , or nine percent of the gross domestic product.
The Jordanian Minister of Finance Mohammad Abu Hammour said last month that the kingdom is bound to reduce the budget deficit to the target level of 6.3% of GDP in 2010.
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