Local revenues increased by JD470.3 million in first 10 months of 2023 — ministry

AMMAN — Local revenues in the January-October period of 2023 increased by JD470.3 million, reaching a total of JD7.124 billion compared with the same period in 2022, according to official figures.

Finance Ministry attributed the increase to a rise in tax revenues by approximately JD250.4 million and a growth in non-tax revenues by about JD220 million.

The ministry’s monthly report, cited by the Jordan News Agency, Petra, said that the increase in tax revenues was the result of the JD1.623 billion uptick in income tax revenues and profits, marking a JD234.4 million rise and achieving 105.1 per cent of the projected figure in the 2023 General Budget Law.  “The improvement was a result of improved tax compliance behaviour from taxpayers,” the ministry said.

The total public expenditure during the January-October period of this year stood at JD78.835 billion, compared with JD8.562 billion in the same period in 2022. This increase was due to a rise in the current expenditure by JD526.2 million compared with the corresponding period of 2022.

The financial deficit decreased by JD144.4 million to reach JD1.635 billion during the first ten months of the year, compared with JD1.780 billion in the same period of 2022, Petra reported.