Domestic revenues rose during the first two months of 2023 by JD83.3 million, reaching JD1.295 billion, compared to JD1.213 billion during the same period last year, according to Ministry of Finance data. This increase was due to an upsurge in tax revenues by about JD34.4 million to reach about JD1.004 billion, compared to JD970.2 million during the same period last year. In its monthly bulletin, the Ministry of Finance attributed this rise to tax revenues, as taxes on income and profits increased by about JD41.4 million, indicating that the government is continuing to pursue financial and economic reform and reflects the commitment of the ministry’s team and Income and Sales Tax Department to expand the tax base. Non-tax revenues also increased by about JD48.9 million, to reach JD291 million, compared to JD242.1 million, during the same period last year, the ministry’s figures showed. This growth was due to the increase in ownership income revenues by about JD26.1 million, driven by increase in the item of financial surpluses, with a value of JD20.3 million, compared to the same period last year. Meanwhile, public expenditures increased by JD97.6 million during the first two months of 2023 to reach JD1.504 billion, compared to JD1.406 billion during the same period last year, the data revealed. This rise in total spending is due to the increase in current expenditures by JD84.8 million, or 6.2%, and the surge in capital expenditures by about JD12.9 million, or 36.6%. The balance of government debt until end of last February 2023, after excluding Social Security Investment Fund (SSIF), amounted to JD30.517 billion, or 89.6% of the estimated GDP for the last month of February 2023, compared to JD30.667.6 billion in the end of 2022, or 91% of GDP.
Source: Jordan News Agency