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Jordan receives $407m in foreign grants by October-end

16 Dec 2010

(MENAFN) Jordan’s Ministry of Finance revealed that the Kingdom has received foreign grants worth $407 million by October-end, compared to $204.2 million during the corresponding period a year earlier, Bloomberg reported.

As a result of the foreign grants and a reduction in government spending, Jordanï¿½s budget deficit narrowed 26 percent to $928.2 million during the mentioned period, bringing the forecasted full-year budget deficit after grants to $1.4 billion, or 5.3 percent of the Kingdomï¿½s gross domestic product (GDP), revised from 6 percent.

According to ministry data, foreign debt increased by 4 percent to $5.69 billion in the first ten months, whereas domestic debt increased 20 percent to $9.79 billion.

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