Domestic revenues surge in 2023 to reach JD7.6bln

Photo credit: Petra

Jordan's domestic revenues surged in the first eleven months of 2023, climbing by JD 374 million to approximately JD 7.695 billion, compared to the corresponding period in 2022, with their coverage of current expenses reaching 88.4 percent, Petra reports.

This upswing was fueled by a rise in tax revenues of around JD 206.5 million and an uptick in non-tax revenues of about JD 167.5 million.
As per the monthly financial bulletin, the surge in tax revenues was chiefly propelled by a hike in income and profits tax revenues, totaling JD 205.5 million and standing at JD 1.678 million, exceeding 108.6 percent of the estimation in the general budget law for 2023. This surge stemmed from enhanced taxpayer commitment and compliance without raising tax rates.
Regarding public spending, the total outlay of the central government/budget during the first eleven months of 2023 hit about JD 9.760 billion, compared to JD 9.388 billion during the same period in 2022, primarily due to a JD 590.7 million uptick in current expenditures.

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