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Jordan’s lower house of parliament has given the green light for a 2015 austerity budget, trimming the deficit to JD468mn ($660mn) from JD688mn ($970mn) in an earlier draft, at the recommendation of the house financial committee. The deficit forecast in the 2015 budget is some 49% lower in nominal terms than the 2014 budget figure of JD911mn ($1,284mn).
Jordan’s finance ministry says the actual deficit was JD900mn ($1,269mn) for January-November 2014.
The reduction in the deficit results from a cut of JD220mn ($310mn) in total expenditure to JD7,876mn ($11,092mn) from JD8,096mn ($11,415mn) in the original budget projections announced in November (MEES, 28 November 2014). (CONTINUED - 726 WORDS)