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The freshly released 2019 budget shows Jordan aiming to cut its budget deficit by 22% in real terms to JD 650mn ($910mn at the fixed rate of JD1=$1.41), down from $1.13bn in 2018 based on provisional numbers from the General Budget Department and Ministry of Finance (see table).
The government intends to do so without spending cuts: indeed, spending is slated to rise by 4% in real terms to $13bn for 2019. $11.3bn will be allocated toward current spending (mostly toward public sector wages and the military/security apparatus), a $500mn hike, whilst capital spending is slated to rise year-on-year by nearly 20%. Amman expects subsidies to remain flat along with ‘other’ spending which includes pensions and healthcare. (CONTINUED - 1102 WORDS)
DATA INSIDE THIS ARTICLE
|table||Jordan Public Finances ($Bn)|
|chart||Jordan Public Finances ($Bn): Deficits, Deficits, Deficits|
|chart||Jordan's Debt ($Bn) Continues To Climb As Low Growth (% GDP) Leads To Consecutive Deficit Spending|