In Jordan total revenues and foreign aid during the first seven months of this year exceeded expenditure and net lending, bringing the budget deficit to JD117.5 million or $166 million when grants are included, Jordan Times reported Tuesday.
The daily quoted the finance ministry monthly bulletin as saying that the drop in domestic revenues, was due to a reduction in non-tax proceeds, blamed mainly on a decline in interest and profits made by Jordan Telecom and the Port Authority.
However, tax revenues rose by around eight percent, owing to a drop in customs fees accompanied by an increase in income and sales taxes, the Jordanian paper added. Highlighting the total expenditure and net lending which increased by about 40 percent during the first seven months of 2000, compared to the corresponding period of 1999 - Albawaba.com
© 2000 Al Bawaba (www.albawaba.com)
