Public deficit in the central government’s general budget dropped during the first five months of 2023 with grants included to about JD489.5 million, compared to a fiscal deficit of about JD561.6 million during the same period last year, Ministry of Finance announced. The deficit calculated without foreign grants went down by about JD506.5 million during the January-May period 2023, compared to a financial deficit of about JD603.6 million during the same period last year, according to the ministry’s financial bulletin. The drop in the public deficit, which represents the difference between revenues and public expenditures, was driven by the increase in revenues at end of last May to JD3.809 billion, compared to JD3.418 billion for the same period last year, marking an increase of JD391 million, while public spending amounted to about JD4.298 billion, the ministry’s figures showed. Meanwhile, foreign grants during the first five months of 2023 amounted to JD17 million, compared to JD41.9 million during the same period last year, constituting a drop of about JD24.9 million, or 59.4%, the bulletin data revealed. With regard to government debt, its balance until end of last May amounted to JD31.086 billion, or 89.8% of the estimated GDP for May 2023, compared to JD30.667 billion at the end of 2022. Moreover, balance of foreign debt (balanced and guaranteed) amounted to about JD17.535 billion, or 50.7% of the estimated GDP for May 2023, compared to JD16.488 billion at the end of 2022. On the other hand, foreign debt service / interest (balanced and guaranteed) during May 2023 amounted to about JD72.5 million, while extensions of external installments amounted to about JD194.9 million. The domestic debt balance at the end of last May 2023 stood at about JD13.551 billion, or 39.1% of the estimated GDP for May of 2023, compared to JD14.178 billion at the end of 2022.

Source: Jordan News Agency