Jordan Times
Tuesday, May 11, 2004
Government posts JD65.8 million budget surplus in first quarter
AMMAN (Petra) — Higher government revenues and foreign grants in addition to a drop in total spending helped achieve a JD65.8 million budget surplus during the January-March period of 2004 compared to a JD96.1 million deficit during the same period last year, according to the latest monthly bulletin issued by the Ministry of Finance.
Total government revenues and foreign grants rose
during this year's first quarter by 33.7 per cent, reaching JD570.3 million
compared to JD426.5 million during the same period last year, the bulletin
indicated.
The increase was the result of a rise in local revenues by 33.4 per cent to
JD503.4 million compared to JD377.4 million and a 36.3 per cent rise in foreign
grants, reaching JD66.9 million compared to JD49.1 million.
Total expenditure dropped by 3.5 per cent or JD18.1 million to JD504.5 million
compared to JD522.6 million, the bulletin pointed out.
The bulletin showed that the outstanding external public (government and
guaranteed) debt stood at JD5,296 million or 70.1 per cent of the estimated
gross domestic product (GDP) for 2004 at the end of last March compared to
JD5,392 million or 77.1 per cent of last year's estimated GDP at the end of
2003.
Total public foreign debt servicing stood at the end of last March at JD170.8
million, of which 139.9 million were principal payments and JD30.9 were interest
payments.
Domestic debt stood at JD1,525 million or 20.2 per cent of the estimated GDP for
2004 compared to JD1,703 million or 24.4 per cent of the 2003 GDP.