Domestic revenues in 2022 amounted to JD8.122 billion compared with JD7.325 billion registered in 2021, an rise of JD797 million, the Ministry of Finance said in its monthly bulletin, published Wednesday. This increase in domestic revenues is due to the increase in tax revenues by about JD421 million, and the increase in non-tax revenues by about JD376 million. The coverage of domestic revenues for current expenditures reached 90.7 per cent, reflecting the government’s approach to enhancing financial independence. The Ministry’s bulletin showed that the rise in tax revenues is due to the rise in the general tax on goods and services by about JD128.8 million, to reach JD4.167 billion in 2022, and the increase in income and profit tax collections, by JD368.6 million, to reach JD1.548 billion in 2022. This increase is due to measures the government committed to in 2022 to revise the tax regulations and administrative and structural procedures, in its fight against tax evasion and avoidance. On the other hand, public expenditures increased by JD608 million in 2022, to reach JD10.466 billion, or 6.2 per cent compared to 2021. This increase is mainly due to the increase in current expenditures by JD233.7 million, or 2.7 per cent, and the increase in capital expenditures by JD374 million, or 32.9 per cent, knowing that the item of spending on social protection increased by JD184 million compared to last year, according to the Ministry’s bulletin. The government debt balance amounted to JD30.667 billion at 2022 end, or 88.5 per cent of the estimated GDP for 2022, compared to JD28.763 billion, at 2021 end, or 88.6 per cent.
Source: Jordan News Agency
