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FinancialNews


  • 04-09-10

    Jordan receives $294m in foreign grants

    (MENAFN) Foreign grants to help Jordan finance government spending more than doubled in the first seven months of this year, the government said. Jordan received $294 million in grants through July, compared with $145 million in the same period in 2009, the Ministry of Finance said in a preliminary report. The kingdom�s budget deficit narrowed to $396 million in the first seven months after receipt of the grants and a reduction in government spending, compared with a shortfall of $903 million in the same period in 2009. Jordan, which imports more than 90 percent of its oil, typically relies on foreign investment and grants to finance deficits in the budget and in the current account.

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