FINANCIAL NEWS

Jordan cuts budget deficit to $398m

14 Sep 2010

(MENAFN) The Jordanian Ministry of Finance said that the kingdom’s budget deficit for the first seven months of this year fell to less than half the figure recorded during the same period last year, Petra reported.

According to the figures, the deficit at the end of July stood at $398 million, compared with $902 million during the same span last year.

Minister of Finance Mohammad Abu Hammour said the drop was the outcome of an increase in domestic revenues and foreign assistance coupled with reduced expenditures.

The government has taken several measures this year to reduce public expenditures, including cutting down the salaries of the ministerial team.

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