Jordan plans to raise its 2014 budget expenditure by 12.8% to JD8.096bn ($11.41bn at the fixed exchange rate of 1JD=$1.41) from the 2013 budget, according to the draft budget approved on 13 November. Revenue is slated to rise 12.5% to JD6.982bn.
‘Amman projects end-2013 inflation of 5.9% (in line with IMF figures), falling to 4.2% for end 2014 and 2.8% for end-2015. This implies real-term 2014 increases of around 7% for both spending and revenue. The resulting deficit for 2014, including foreign grants, is projected at JD1.114bn ($1.57bn), a nominal increase of 15.1% on the budgeted 2013 figure. (CONTINUED - 531 WORDS)